Let us note that the last two capital raises have consisted of prepaid warrants. This happens when funds or private equity want to take a large position without declaring their holdings.
In this case, Niocorp gets the funds now, and they can execute the warrants once they wish to show their hand.
In the United States, you must declare your position in a public company when you acquire more than 5% of a voting class of its equity securities, as required by Section 13(d) of the Securities Exchange Act of 1934. You must file a Schedule 13D with the Securities and Exchange Commission (SEC) within 10 days of crossing the 5% ownership threshold.
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