07:36 AM EDT, 03/19/2026 (MT Newswires) -- i-80 GOLD CORP. ( IAUX ) was edging lower in US premarket trade after announcing Thursday that it has priced its previously announced offering of unsecured convertible senior notes due 2031.

The company in a statement said it intends to issue US$250 million aggregate principal amount of Notes (or US$287.5 million aggregate principal amount if the option granted to the initial purchasers to purchase additional Notes is exercised in full). The offering was upsized from a prior announced US$200 million (or US$230 million if the option granted to initial purchasers to buy additional Notes was exercised in full).

Thursday's statement noted the Notes will bear cash interest paid semi-annually at a rate of 3.75% per annum. The initial conversion rate for the Notes will be 519.4805 common shares of the company per US$1,000 principal amount of Notes, equivalent to an initial conversion price of approximately US$1.93 per Share. The initial conversion rate represents a premium of approximately 37.5% relative to yesterday's closing market price of the shares on the NYSE American and is subject to adjustment in certain events.

The offering is expected to close on or about March 23, 2026, subject to customary closing conditions including approval of the Toronto Stock Exchange and the NYSE American.

i-80 Gold ( IAUX ) said it intends to use the net proceeds from this offering to advance the company's gold projects through various stages of development, refurbish the Lone Tree processing plant, and fund resource expansion and infill drilling, as well as for general corporate and working capital purposes.

Shares in i-80 Gold ( IAUX ) were down 17.5% in Canada, and 13.5% in the U.S., yesterday.