Guardian Metal Resources PLC (LSE:GMET) on Friday confirmed the pricing of an upsized US initial public offering that will raise about $60 million in gross proceeds, as the Nevada-focused tungsten explorer pushes ahead with a NYSE American listing alongside its existing AIM quote.
The company said it will sell 4.44 million American Depositary Shares at $13.50 each. Meanwhile, Guardian said it had also granted underwriters a 45-day option to buy up to a further 666,660 ADSs.
In Friday's early trade, the London share price was down 4.5% at 210p each.
Trading is expected to begin on NYSE American on 20 March, under the ticker GMTL. BMO Capital Markets was the lead book-running manager, alongside Cantor Fitzgerald, whilst D.A. Davidson and Berenberg Capital Markets were designated as co-managers.