On February 8, 2024, Capstone Copper Corp. and Orion Fund JV Limited, Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP jointly completed a bought deal public offering of common shares of Capstone for aggregate gross proceeds of approximately $431 million, comprised of: (i) 56,548,000 common shares of Capstone issued and sold on a treasury basis by Capstone at a price of $6.30 per common share for gross proceeds to Capstone of approximately $356 million, which included the full exercise of the over-allotment option; and (ii) 11,900,000 common shares of Capstone sold on a secondary basis by Orion at a price of $6.30 per common share for gross proceeds to Orion of approximately $75 million.
The offering was completed by a syndicate of underwriters co-led by RBC Capital Markets, National Bank Financial Inc. and Scotiabank, as joint bookrunners, and including BMO Capital Markets, Canaccord Genuity Corp., and CIBC World Markets Inc.
Cassels acted for the underwriters.