AUMN - Golden Minerals sinks to new lows after pricing direct offering at $1.45/share

2023-06-27 11:22:39 ET

Golden Minerals ( NYSE: AUMN ) -13.1% in Tuesday's trading after it said it entered into definitive agreements for the purchase and sale of more than 1.42M common shares at $1.45 each in a registered direct offering .

In a concurrent private placement, the company said it will issue unregistered warrants to buy up to the same number of common shares with an exercise price of $1.90/share.

Golden Minerals ( AUMN ) said it expects the offering will bring in $2.1M in gross proceeds, which it intends to use for working capital and other general corporate purposes.

Earlier this month, the company was told it is not in compliance with one of NYSE American's continued listing standards, after reporting losses from continuing operations and/or net losses in its five most recent fiscal years.

More on Golden Minerals:

• Financial and valuation comparison to sector peers
• Analysis: Golden Minerals: A Softer Year Ahead At Rodeo
• Stock price return: Down 73.5% YTD, down 79.5% in the past 12 months

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