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Financings

Rio2 Announces Upsize of Previously Announced Bought Deal Financing to C$166 Million

By The Northwire Desk — AI Analysis Dec 08, 2025 · 21:08 RIO · 2.50 Rio2 Limited
RIO · Price

Executive Summary

  • Rio2 Limited has upsized its previously announced "bought deal" equity financing from C$140 million to approximately C$166 million (approx. US$120 million) due to strong investor demand.
  • The company is issuing 74,865,000 Subscription Receipts at an issue price of C$2.22 per receipt to co-lead underwriters Raymond James Ltd., Stifel Nicolaus Canada Inc., and BMO Nesbitt Burns Inc.
  • The transaction includes a 15% over-allotment option for the underwriters and is expected to close on or about December 15, 2025, pending TSX approval.

Key Details

  • Transaction Size: Upsized from C$140 million to approximately C$166,200,300 in gross proceeds.
  • Instrument: 74,865,000 Subscription Receipts.
  • Issue Price: C$2.22 per Subscription Receipt.
  • Underwriters: Raymond James Ltd., Stifel Nicolaus Canada Inc., and BMO Nesbitt Burns Inc. (co-lead underwriters and joint bookrunners).
  • Over-Allotment Option: The underwriters have an option to purchase up to 15% additional Subscription Receipts at the Issue Price, exercisable within 30 days following the Closing Date for market stabilization or to cover over-allotments.
  • Closing Date: Expected on or about December 15, 2025, subject to customary closing conditions, including TSX approval.
  • Terms: All other terms remain unchanged from the previously announced offering.

Notable Quotes

  • No direct quotes from the CEO/President were included in the provided text.
Read the original news release →

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