NioCorp prices $150.2 million offering to fund critical minerals project

CENTENNIAL, CO - NioCorp Developments Ltd. (Nasdaq:NB), currently valued at $1.67 billion, announced Monday the pricing of a registered direct offering expected to raise approximately $150.2 million in gross proceeds to help advance its Elk Creek Project in Southeast Nebraska.

The offering consists of up to 16,077,175 common shares (or pre-funded warrants) priced at $9.34 per share. Maxim Group LLC is serving as the sole placement agent for the transaction, which is expected to close around October 15, 2025. According to InvestingPro data, the company operates with moderate debt levels and maintains sufficient liquid assets to cover short-term obligations, suggesting a stable financial position for this capital raise.

According to the company’s press release statement, NioCorp intends to use the net proceeds for working capital and general corporate purposes, with a focus on launching construction of the Elk Creek Project and moving it toward commercial operation.

The Elk Creek Project aims to produce niobium, scandium, and titanium. Niobium is used in specialty alloys and high-strength steel for automotive and pipeline applications, while scandium is used in aluminum alloys and fuel cells. Titanium serves various applications including aerospace and medical implants.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on October 10, 2025. No securities will be offered or sold to Canadian purchasers under this offering.

The company noted that the offering is subject to customary closing conditions. A prospectus supplement relating to the securities will be filed by the company with the SEC.

NioCorp is also evaluating the potential to produce rare earth elements from the Elk Creek Project, including neodymium, praseodymium, terbium, and dysprosium, which are used in making specialized magnets for defense and civilian applications.

In other recent news, NioCorp Developments Ltd. has completed a series of significant transactions and developments. The company finalized the acquisition of two land parcels in Johnson County, Nebraska, for approximately $11.3 million, enhancing its Elk Creek Critical Minerals Project. This acquisition includes 325.77 acres, securing all necessary surface and mineral rights for the project. Additionally, NioCorp is advancing its due diligence process with the Export-Import Bank of the United States for potential $800 million financing, with SLR Consulting conducting an independent environmental and social review.

NioCorp also successfully closed a $60 million public offering to further support the Elk Creek Project. In another development, the company appointed David Hamm as its new General Counsel, bringing over 15 years of legal experience to the team. Hamm’s previous roles include positions at Summit Materials Inc. and Lumen Technologies Inc., where he focused on corporate governance and complex transactions. These recent developments highlight NioCorp’s strategic efforts to advance its critical minerals initiatives.

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