10:30 AM EDT, 06/12/2025 (MT Newswires) -- Hycroft Mining ( HYMC ) said Thursday it priced an underwritten offering of 12.5 million units at $3.50 per unit for gross proceeds of about $43.8 million.

Each unit comprises one common share and one-half of one common stock purchase warrant, Hycroft said.

The offering, which was upsized from $40 million, is expected to close on Friday, the company said. The underwriters were granted a 30-day option to buy up to an additional 1.9 million units, common shares and/or warrants, Hycroft said.

The company said it plans to use the net proceeds for further exploration, working capital and general corporate purposes.

Hycroft shares fell 27% in recent Thursday trading.

Price: 3.14, Change: -1.14, Percent Change: -26.71