US GoldMining updates terms for proposed $20M US IPO (USGO)
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US GoldMining (NYSEMKT:USGO), a spin-out of Canada’s GoldMining (NYSE:GLDG), has updated terms for a proposed $20M initial public offering, which is expected to occur later this week.
The Alaska-based mining company plans to offer 2M units priced at $10 per unit. Each unit would consist of one share plus one warrant to buy one share for $13.
The company intends to list its shares on Nasdaq under the symbol USGO. H.C. Wainwright and BMO Capital Markets are serving as joint bookrunners, according to the filing.
US GoldMining was established by GoldMining February 2022 to focus on developing its Whistler gold-copper exploration project located in the Yentna Mining District outside of Anchorage, Alaska.
US GoldMining will be GoldMining’s second spin-off in recent years. The mining group created Gold Royalty (GROY) in 2020, which later raised $90M through an IPO in March 2021.
For more on US GoldMining, check out Donovan Jones’s “US GoldMining Aims for US IPO Investment.”
