Ivanhoe Electric issues shares in overallotment option

Executive Summary

• Ivanhoe Electric fully exercised the underwriters' option to purchase an additional 1.5 million shares of common stock, closing the offering and increasing total gross proceeds to $172.5 million.
• The shares were sold at a public offering price of $15 per share, bringing the total number of shares issued in the offering to 11.5 million (10 million initial + 1.5 million option).
• Net proceeds are designated for completing land purchase payments at the Santa Cruz copper project in Arizona, financing early development and exploration activities, and general working capital.

Key Details

• Transaction Structure: Full exercise and closing of the underwriters' option for an additional 1.5 million shares.
• Total Gross Proceeds: $172.5 million (before deducting underwriting discounts, commissions, and estimated offering expenses).
• Offering Price: $15 per share.
• Total Shares Issued: 11.5 million shares (10 million original shares + 1.5 million option shares).
• Use of Proceeds:
  • Complete remaining payments for land purchase at the Santa Cruz copper project (Arizona).
  • Finance early development activities at the Santa Cruz copper project.
  • Finance exploration activities at current projects and joint ventures.
  • Other working capital and general corporate purposes.
• Underwriters:
  • Lead Bookrunner: BMO Capital Markets.
  • Bookrunners: J.P. Morgan and National Bank of Canada Capital Markets.
• Regulatory Filings:
  • Form S-3 registration statement filed with the SEC (No. 333-273195), automatically declared effective July 10, 2023.
  • Final prospectus supplement filed with the SEC on Oct. 22, 2025.
  • Final MJDS prospectus supplement filed with Canadian securities commissions on Oct. 22, 2025.
• Exchange Approval: Relied on TSX Section 602.1 exemption for eligible interlisted issuers, as less than 25% of trading volume occurred in Canada over the prior 12 months.

Notable Quotes

• No direct quotes from management were included in the provided text.