NioCorp Developments ( (NB) ) has provided an announcement.
NioCorp Developments Ltd. has announced the pricing of a $20 million underwritten public offering of common shares in the United States, with Maxim Group LLC serving as the sole book-running manager. This offering, expected to close by April 21, 2025, will support the company’s ongoing projects and potentially strengthen its financial position, enhancing its ability to advance the Elk Creek Project and explore rare earth production, which could have significant implications for stakeholders and the industry.
More about NioCorp Developments
NioCorp Developments Ltd. is focused on developing the Elk Creek Project, which aims to produce niobium, scandium, and titanium. The company is also exploring the potential to produce rare earth elements from this project. Niobium is used in specialty alloys and high-strength, low-alloy steel for automotive and structural applications. Scandium enhances aluminum alloys and is vital for advanced fuel cells, while titanium is used in lightweight alloys and various industrial applications. Rare earths like neodymium and dysprosium are essential for making powerful magnets used in defense and civilian technologies.
YTD Price Performance: 149.34%
Average Trading Volume: 703,305
Technical Sentiment Signal: Sell
Current Market Cap: $135.3M
Learn more about NB stock on TipRanks’ Stock Analysis page.