Hycroft Announces Exercise and Closing of Underwriters' Option for Additional Shares

Hycroft Mining Holding Corporation announced the exercise and closing of the underwriters' option to purchase an additional 1.3 million shares of Class A Common Stock and 937,500 warrants at the public offering price of $3.49 per share and $0.02 per warrant, respectively. The exercise of the underwriters' option for the additional Class A Common Stock closed on July 11, 2025, while the exercise of the warrants closed on June 13, 2025. The over-allotment option was granted in connection with the Company's previously announced underwritten public offering of 12.5 million units at a public offering price of $3.50 per unit.

Hycroft Mining Holding Corporation (Nasdaq: HYMC) has successfully exercised and closed its underwriters' option to purchase an additional 1,324,117 shares of Class A Common Stock and 937,500 warrants. The exercise of the underwriters' option for the additional Class A Common Stock closed on July 11, 2025, while the exercise of the warrants closed on June 13, 2025 [1].

The over-allotment option was granted in connection with the Company's previously announced underwritten public offering of 12,500,000 units at a public offering price of $3.50 per unit. Each unit consisted of one share of Class A Common Stock and one-half of one Class A Stock purchase warrant, exercisable for 36 months to purchase one share at $4.20 per share [1].

After giving effect to the exercise of the underwriters' option, the total number of Class A Common Stock sold by the Company in the public offering increased to 13,824,117 shares, and the number of warrants issued increased to 7,187,500. The gross proceeds received by the Company increased to approximately $48.4 million, before deducting underwriting discounts and offering expenses payable [1].

BMO Capital Markets and Paradigm Capital Inc. acted as joint book-running managers for the Offering. SCP Resource Finance LP acted as a capital markets advisor to the Company [1].

"We are very pleased with the strong support for Hycroft," said Diane R. Garrett, President and Chief Executive Officer. "The additional capital from the exercise of the over-allotment option strengthens our balance sheet and enables us to accelerate exploration and development activities at the Hycroft Mine" [1].

Hycroft intends to use the net proceeds from the Offering for further exploration, working capital, and general corporate purposes [1].

A shelf registration statement on Form S-3 (No. 333-279292) was filed by the Company with the U.S. Securities and Exchange Commission (the "SEC"), as amended. A prospectus supplement relating to and describing the terms of the offering was filed with the SEC and is available on the SEC's website at www.sec.gov [1].

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction [1].

References:

[1] https://www.prnewswire.com/news-releases/hycroft-announces-exercise-and-closing-of-underwriters-option-302503860.html
[2] https://www.stocktitan.net/news/HYMC/hycroft-announces-exercise-and-closing-of-underwriters-0q0sr2lj5e9k.html