i-80 Gold Corp. issued $287.5 million aggregate principal amount of 3.75% Convertible Senior Notes due 2031 on March 23, 2026, pursuant to an indenture with Computershare Trust Company, N.A., including the full exercise of a $37.5 million option by initial purchasers. The notes are general unsecured senior obligations convertible into common shares at an initial rate of 519.4805 shares per $1,000 principal amount (approximately $1.93 per share).
Key takeaways
Issued $287.5 million 3.75% Convertible Senior Notes due April 15, 2031 on March 23, 2026
Interest accrues at 3.75% per year, payable semiannually starting October 15, 2026
Initial conversion rate of 519.4805 common shares per $1,000 principal (initial conversion price ~$1.93 per share)
Initial purchasers exercised option for additional $37.5 million aggregate principal on March 20, 2026
Notes sold to qualified institutional buyers under Rule 144A exemption from Securities Act registration
Net proceeds to advance gold projects, refurbish Lone Tree processing plant, fund drilling, and general corporate purposes