07:55 AM EDT, 05/09/2025 (MT Newswires) -- i-80 GOLD ( IAUX ) on Friday fell 14% in U.S. pre-market trading it announced plans to raise US$135 million in a bought deal public offering of units.

The company will sell 270 million units at US$0.50 apiece. i-80 Gold ( IAUX ) granted to the underwriters an over-allotment option to buy an additional 15% of the base offering, that could bring additional proceeds of up to US$20.3 million.

Each unit is comprised of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to buy one common share at US$0.70 for a period of 30 months following the closing of the offering.

Proceeds will be used on growth expenditures in support of i-80's new development plan in Nevada and for general corporate purposes. The offering is expected to close on or about May 16.

U.S.-listed shares of the company were last seen down $0.0857 at $0.5154 in pre-market trading.