Niocorp Developments Ltd (NB)

[Prudent Capitalist]

Of course not. Everything was laid out and explained at the Town halls last November. Even without redemptions we were only going to raise a relatively small amount of $$$$ needed for the project (at most less than 25% with no redemptions) and it was going to be dilutive at the rate of .89 per share, or $8.90 post-RS. We were always informed that 75-80% of the project would be funded through non-dilutive debt financing and the payoff period for all of the debt was very short once the mine is up and running at near-full production. SMH

So where they just hoping they could effectively sell the project to the SPAC investors and buck the high redemption rate trend? If so, yikes.