10:58 AM EDT, 05/16/2025 (MT Newswires) -- i-80 Gold ( IAUX ) said Friday it has closed its previously announced bought deal public offering of about 345.8 million of its units for total gross proceeds of roughly $172.9 million, or $0.50 apiece.

Each unit includes one common share and half of a warrant, with each full warrant allowing the purchase of one common share at $0.70 until Nov. 16, 2027, the company added.

The miner also said it plans to complete a private placement of about 22.4 million of its units for total gross proceeds of approximately $11.1 million, adding that it intends to use the net proceeds from the offering and the private placement for its development plan in Nevada and for general corporate purposes.

i-80 Gold ( IAUX ) said it expects to close the private placement offering around Tuesday.

Shares of the company were down over 1% in recent Friday trading.

Price: 0.50, Change: -0.01, Percent Change: -1.85