Loan & DebtMay 20, 2026, 04:03 PM
Osisko Development to Offer $275M Convertible Senior Notes
AI Summary
Osisko Development Corp. announced its intention to offer US$225.0 million in convertible senior notes due 2031 through a private placement, with an option for initial purchasers to buy an additional US$25.0 million. An affiliated investor has also indicated interest in purchasing up to US$50.0 million in a concurrent private placement, bringing the total potential offering to US$275.0 million (excluding the initial purchasers' option). The net proceeds are intended for the development of the Cariboo Gold Project, general corporate purposes, and to fund cash-settled capped call transactions designed to offset potential economic dilution.
Key Highlights
- Osisko Development to offer US$225.0 million in convertible senior notes due 2031.
- Initial purchasers have an option to buy an additional US$25.0 million in notes.
- Affiliated investor indicated interest in purchasing up to US$50.0 million in notes.
- Total offering, including affiliate notes, is US$275.0 million.
- Net proceeds will fund the Cariboo Gold Project development and general corporate purposes.
- A portion of proceeds will be used for cash-settled capped call transactions.
- Notes are general senior unsecured obligations, convertible into cash, shares, or both.
Price Impact
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