Pan American silver closes US$103 million public offering of common shares
Pan American Silver Corp. has closed its previously announced public offering of common shares. Pursuant to the Offering, the Company today issued 6,371,000 common shares at a price of US$16.25 per share, for aggregate gross proceeds of US$103,528,750 and total proceeds, net of underwriting fees, of US$98,611,134, including the exercise in full of the underwriters’ over-allotment option.
The Company expects to use the net proceeds from the Offering to fund acquisitions, development programs on acquired mineral properties, working capital requirements and for other general corporate purposes.
Goldman Sachs Canada Inc. and CIBC World Markets Inc. acted as co-lead managers and joint book runners of the Offering and UBS Securities Canada Inc., Merrill Lynch Canada Inc., RBC Dominion Securities Inc., National Bank Financial Inc., Raymond James Ltd., Salman Partners Inc. and Canaccord Capital Corporation, acted as co-managers of the Offering.
