Silver and precious metals producer Gatos Silver sets terms for $150 million IPO
Gatos Silver, a US producer of silver and other precious metals, announced terms for its IPO on Friday. It plans to dual-list its shares on the NYSE and the Toronto Stock Exchange.
The Greenwood Village, CO-based company plans to raise $150 million by offering 18.8 million shares at a price range of $7 to $9. At the midpoint of the proposed range, Gatos Silver would command a fully diluted market value of $433 million.
Gatos Silver is a precious metals production, development, and exploration company with the objective of becoming a premier silver producer. The company is currently focused on the production and continued development of the Cerro Los Gatos Mine and the further exploration and development of the Los Gatos District in Chihuahua, Mexico. As of July 1, 2020, the company had completed 739 exploration drill holes in the Los Gatos District, totaling 259,060 meters.
Gatos Silver was founded in 2009 and plans to list on the NYSE under the symbol GATO. BMO Capital Markets, Goldman Sachs and RBC Capital Markets are the joint bookrunners on the deal.
The article Silver and precious metals producer Gatos Silver sets terms for $150 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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