Ivanhoe Electric Announces Closing of Initial Public Offering NEW
June 30, 2022
Ivanhoe Electric Announces Closing of Initial Public Offering
NEW YORK, New York – Ivanhoe Electric Inc. (“Ivanhoe Electric”), a U.S.-based minerals
exploration and development company, announced today the closing of its initial public offering
of 14,388,000 shares of its common stock at a price of US$11.75 per share. The gross
proceeds from the offering were approximately US$169.1 million, before deducting
underwriting discounts and commissions and estimated offering expenses payable by Ivanhoe
Electric. In addition, Ivanhoe Electric has granted the underwriters a 30-day option to purchase
up to an additional 2,158,200 shares of common stock at the initial public offering price, less
underwriting discounts and commissions.
The shares commenced trading on the NYSE American and the Toronto Stock Exchange on
June 28, 2022 under the ticker symbol “IE”.
Ivanhoe Electric intends to use the net proceeds of the offering to fund certain payments to
acquire or maintain its mineral and property rights to its material and key mineral properties, to
further its metals exploration activities at all of its mineral properties, to construct and deploy
additional sets of its Typhoon™ electrical pulse-powered geophysical surveying transmitter
technology, as well as working capital and general and administrative costs.
BMO Capital Markets and Jefferies acted as the lead bookrunners for the offering. J.P. Morgan
acted as a joint bookrunner for the offering. Raymond James, RBC Capital Markets and
Scotiabank acted as co-managers for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus relating to the
offering may be obtained from BMO Capital Markets Corp., Attn: Equity Syndicate Department,
151 W 42nd Street, 32nd Floor, New York, NY 10036, telephone: (800) 414-3627, email:
[email protected]; or Jefferies LLC, Attn: Equity Syndicate Prospectus Department,
520 Madison Avenue, New York, NY 10022, by telephone: 1-877-821-7388 or by email:
A registration statement relating to these securities has been filed with, and declared effective
by, the U.S. Securities and Exchange Commission. Ivanhoe Electric has also obtained a
receipt for a final base PREP prospectus filed with the securities commissions or similar
securities regulatory authorities in each of the provinces of Canada (except Québec). A copy of
the U.S. prospectus and supplemented PREP prospectus containing pricing information and
other important information relating to the shares of common stock may be obtained from the
underwriters at the addresses set out above and are available on the SEDAR website at
www.sedar.com and the EDGAR website at www.sec.gov/edgar, as applicable, under Ivanhoe
Electric’s profile.
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This press release shall not constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Ivanhoe Electric
Ivanhoe Electric is an American technology and mineral exploration company that is re-
inventing mining for the electrification of everything by combining advanced mineral exploration
technologies, renewable energy storage solutions and electric metals projects predominantly
located in the United States. Ivanhoe Electric uses its Typhoon™ transmitter, an accurate and
powerful geophysical survey system, together with advanced data analytics provided by its
subsidiary, Computational Geosciences, to accelerate and de-risk the mineral exploration
process as well as to potentially discover deposits of critical metals that may otherwise be
undetectable by traditional exploration technologies. Through its controlling interest in VRB
Energy, Ivanhoe Electric also develops and manufactures advanced grid-scale vanadium
redox battery storage systems. Finally, through advancing its portfolio of electric metals
projects located primarily in the United States, headlined by the Santa Cruz Copper Project in
Arizona and the Tintic Copper-Gold Project in Utah, as well as projects in Montana, Oregon
and North Carolina, Ivanhoe Electric is also well positioned to support American supply chain
independence by delivering the critical metals necessary for electrification of the economy.
Media Contact
Evan Young
Vice President, Corporate Development
+1-604-689-8765
Forward-Looking Statements
This press release contains statements that constitute “forward looking information” and “forward-
looking statements” within the meaning of U.S. and Canadian securities laws. All statements other than
statements of historical facts contained in this press release, including statements regarding the use of
proceeds from the offering are forward-looking statements. Forward-looking statements are based on
management’s beliefs and assumptions and on information currently available to management. Such
statements are subject to risks and uncertainties, and actual results may differ materially from those
expressed or implied in the forward-looking statements due to various factors, including changes in the
prices of copper or other metals Ivanhoe Electric is exploring for, the results of exploration activities,
significant risk and hazards associated with mining operations, extensive regulation by the U.S.
government as well as local governments; the impact of political, economic and other uncertainties
associated with operating in foreign countries, and the impact of the COVID-19 pandemic and the
global economy. These factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements described in Ivanhoe Electric’s registration statement
on Form S-1, as amended, filed with the U.S. Securities and Exchange Commission and base PREP
prospectus filed with Canadian securities commissions. Ivanhoe Electric expressly disclaims any
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obligation or undertaking to update the forward-looking statements contained in this press release to
reflect any change in its expectations or any change in events, conditions, or circumstances on which
such statements are based unless required to do so by applicable law. No assurance can be given that
such future results will be achieved. Forward-looking statements speak only as of the date of this press
release. We caution you not to place undue reliance on these forward-looking statements.