04:04 AM EST, 02/12/2025 (MT Newswires) -- Ivanhoe Electric ( IE ) said late Tuesday it priced an underwritten public offering of about 10.3 million units at $5.85 per unit for expected gross proceeds of $60 million.

The company said each unit consists of one share and one warrant, with the warrant exercisable to purchase one share at $7.

The company granted underwriters a 30-day option to purchase up to about 1.5 million extra units.

Proceeds from the offering, expected to close on Friday, will be used for the preliminary feasibility study for the Santa Cruz Project, land acquisition payments, drilling, exploration activities and general corporate purposes.