05:57 PM EDT, 10/14/2025 (MT Newswires) -- New Pacific Metals ( NEWP ) said late Tuesday it agreed to sell 9.9 million shares in a CA$35.1 million ($25.1 million) bought deal offering at CA$3.55 each, with an option for underwriters to buy up to 1.5 million additional shares within 30 days.

Major shareholder Silvercorp Metals plans to buy about 2.78 million shares, or about CA$9.9 million, which would lift its stake to roughly 28% if the overallotment option is not exercised.

Proceeds will fund exploration at the company's Carangas and Silver Sand projects in Bolivia, along with working capital and general corporate purposes. The deal is expected to close by Oct. 21.

Shares of New Pacific Metals ( NEWP ) were down nearly 10% in after-hours trading.