Replies to post #110388 on Niocorp Developments Ltd (NB)

[PutzMueler]

So has NioCorp sold these Debentures yet?
They seem to come with warrants to exercise.

The financings contemplated by the definitive agreements include (i) up to US$16,000,000 aggregate principal amount of unsecured convertible debentures of NioCorp (the “Convertible Debentures”) convertible into common shares of NioCorp (the “Common Shares”) and Common Share purchase warrants (the “Financing Warrants”) entitling the holders thereof to purchase additional Common Shares (the “Yorkville Convertible Debt Financing”); and (ii) a standby equity purchase facility pursuant to which NioCorp will have the right, but not the obligation, subject to the conditions set out therein, to sell Common Shares to Yorkville with a maximum aggregate value of up to US$65,000,000 over a period of up to 36 months (the “Yorkville Equity Facility Financing” and, together with the Yorkville Convertible Debt Financing, the “Yorkville Financings”).

Admittedly, I don't know squat about this stuff, but it seems to me that they would need to raise the SP to exercise the warrants to sell!

In conjunction with each Debenture Closing, NioCorp will issue to the Investors Financing Warrants to purchase a number of Common Shares as is equal to the quotient of the principal amount of Convertible Debentures issued in such Debenture Closing divided by the “Exercise Price”, which is equal to the greater of: (a) the quotient of US$10.00 divided by 11.1829212; or (b) the average of the daily VWAPs of the Common Shares on the principal U.S. market for the Common Shares during regular trading hours as reported by Bloomberg Financial Markets during the five consecutive trading days ending on the trading day immediately prior to such Debenture Closing, in each case subject to any adjustment to give effect to any stock dividend, stock split or recapitalization.

https://www.niocorp.com/niocorp-announces-finalized-financing-agreements-with-yorkville-advisors-global-lp/