Market Overview

Barrick to Offer 163.5M Shares at $18.35/Share


Barrick Gold Corporation (NYSE: ABX)(TSX:ABX) (Barrick or the "company") announced today that it has entered into an underwriting agreement with a syndicate of underwriters, led by RBC Capital Markets, Barclays and GMP Securities L.P. (the "Underwriters"), for a bought deal public offering for gross proceeds of approximately $3.0 billion representing 163.5 million common shares (the "Common Shares") of Barrick at a price of $18.35 per share (the "Offering"). The company has also granted the Underwriters an over-allotment option, to purchase up to an additional 24.5 million Common Shares at the offering price exercisable for a period of 30 days after closing. The gross proceeds of the Offering will be approximately $3.45 billion if the over-allotment option is exercised in full.The net proceeds from the Offering will be approximately $2.9 billion, determined after deducting the Underwriters' commission. In the event that the Over-Allotment Option is exercised in full, the net proceeds to be received by Barrick will be approximately $3.3 billion.Barrick intends to use the net proceeds of the Offering, including proceeds realized through the exercise of the Over-Allotment Option (if any) to strengthen its balance

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Posted-In: News Guidance Offerings Contracts M&A Global


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