Niocorp Developments Ltd (NB)

[tedro84]

Over $1.2B at least based on what I’ve found. Dilution varies, I never said equity offerings were a bad thing when the company was overvalued. I’ve only ever disputed the commonly held notion that Mountain Pass was funded entirely with debt. It was not. Moly didn’t start accumulating any debt worth mentioning until the Neo deal while depleting their cash reserves at the same time.

$400MM in IPO.

https://www.bloomberg.com/news/articles/2010-07-29/molycorp-reduces-planned-rare-earth-ipo-by-18-to-394-million

$500MM in secondary offering. Later upgraded to nearly $600MM.

https://www.businesswire.com/news/home/20110609006885/en/Molycorp-Announces-Pricing-Secondary-Offering-10000000-Shares

38,000,000 shares at 6.00 in 2013.

https://m.marketscreener.com/MOLYCORP-INC-4885620/news/Molycorp-Inc-Molycorp-Prices-Offerings-of-Common-Stock-and-Convertible-Senior-Notes-15966449/

All this while executives were selling.A good legal read here:

https://www.rlf.com/mobile/showarticle.aspx?show=6133

Finally the Neo deal. More dilution and $650MM in debt:

https://www.jonesday.com/en/practices/experience/2012/03/molycorp-acquires-rare-earth-processor-neo-material-technologies-in-cdn13-billion-us126-billion-transaction

All of these can be verified elsewhere with some DD.