11:06 AM EDT, 06/12/2025 (MT Newswires) -- Perpetua Resources ( PPTA ) , down 19% on last look, on Thursday said it upsized its bought-deal financing and will now issue 24.6-million shares at US$13.20 each, for total proceeds of US$325 million, up from its prior US$300-million target.

In connection with the offering, Paulson & Co. will purchase US$100 million of shares at the same price in a private placement.

The underwriters have also been granted a 15% over-allotment option, which, if exercised in full, would raise the total proceeds of the offering to US$374 million.

The offering is expected to close around June 16. Perpetua will use the proceeds of the offering and the private placement to develop the Stibnite Gold Project in Idaho, in conjunction with the application for up to US$2 billion in project financing that was submitted to the Export-Import Bank of the United States (EXIM) last month.

EXIM's due diligence on Perpetua's application is ongoing and, if successful, Perpetua expects to close the debt financing next year.

The company's shares were last seen down $4.38 to US$18.13 on the Toronto Stock Exchange.

Price: 18.08, Change: -4.43, Percent Change: -19.68