Vancouver —
The financing, 18.5 million shares priced at US$22 apiece, will generate US$407 million in proceeds, plus US$59.4 million if underwriters exercise their option for a further 2.7 million shares for any over-allotments.
The lead underwriters are CIBC World Markets and Scotia Capital, and several other major investment firms are participating.
A portion of the funds will likely be used to fund new project development.
Placer reported US$641 million in cash and cash-equivalents in its recent quarterly report.
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