07:25 AM EDT, 10/22/2025 (MT Newswires) -- Ivanhoe Electric ( IE ) (IE.TO, IE) on Tuesday said it has priced and upsized a public offering of 10 million common shares at US$15 per share to raise gross proceeds of US$150 million.

The company previously planned to sell $125 million of common shares.

Underwriters have been granted a 30-day option to purchase up to an additional 1.5 million common shares at the public offering price.

Net proceeds from the offering will be used to complete the remaining payments owed from the purchase of land at the Santa Cruz copper project in Arizona, to fund early development activities at the project, to fund exploration activities at other projects and joint ventures, and for other working capital and general corporate purposes.

The offering is scheduled to close on Oct. 23, subject to customary closing conditions.

Ivanhoe's share price fell near 6% in Canada yesterday.