Financings

i-80 Gold closes $287.5-million (U.S.) note offering

By The Northwire Desk — AI Analysis Mar 23, 2026 · 20:21 IAU · 1.81 i-80 Gold Corp.

IAU · Price

i-80 Gold Corp. has closed an upsized offering of 3.75% unsecured convertible senior notes due 2031 with an aggregate principal amount of $287.5 million (US).
The offering includes the exercise in full of the initial purchasers' option to purchase an additional $37.5 million (US) in notes.
Net proceeds will be used to advance five gold projects, refurbish the Lone Tree processing plant, finance resource expansion and infill drilling, and for general corporate and working capital purposes.

Instrument: 3.75% unsecured convertible senior notes due 2031.
Aggregate Principal Amount: $287.5 million (US).
Upsizing Details: The offering was upsized by $250 million (US), and the option granted to initial purchasers for an additional $37.5 million (US) was exercised in full.
Conversion Terms:
- Initial conversion rate: 519.4805 common shares per $1,000 (US) principal amount of notes.
- Initial conversion price: Approximately $1.93 (US) per share.
Use of Proceeds:
- Advance the company's five gold projects through various stages of development.
- Refurbish the Lone Tree processing plant.
- Finance resource expansion and infill drilling.
- General corporate and working capital purposes.

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