10:37 AM EDT, 05/16/2025 (MT Newswires) -- i-80 Gold ( IAUX ) on Friday said it closed its previously announced bought deal public offering for proceeds, including exercise of the over-allotment option, of US$172.9 million.

The company also added that it intends to complete a private placement of 22.2 million units on the same terms as the offering, for US$11.1 million. The offering and the concurrent private placement are expected to generate US$184 million. Closing of the concurrent private placement is expected to occur on or about May 20, pending the receipt of all required regulatory approvals.

The company intends to use anticipated proceeds of both the offering and the concurrent private placement on growth expenditures in support of its new development plan in Nevada and for general working capital and corporate purposes.

Shares of the company were last seen down 3% at $0.70 on the Toronto Stock Exchange.

Price: 0.70, Change: -0.02, Percent Change: -2.78