Orion Mine Finance to sell C$285m in Capstone Copper shares

• The deal will see a syndicate of underwriters purchase from selling shareholders 50 million shares of Capstone at a price of C$5.70 per share
• Orion’s gross proceeds could rise to C$327.7 million if the offering’s overallotment option is exercised in full

Capstone Copper Corp has launched a secondary bought deal offering of common shares. The deal will see a syndicate of underwriters led by National Bank Financial and Scotiabank purchase from selling shareholders 50 million shares of Capstone at a price of C$5.70 per share.

As a result of the offering, Orion Mine Finance, a US mining private equity firm, will receive gross proceeds of C$285 million. That number will rise to C$327.7 million if the offering’s overallotment option is exercised in full.

Capstone Copper is an Americas-focused copper mining company headquartered in Vancouver.

Post the closing of the secondary offering, and assuming the over-allotment option is in effect, the selling shareholders, who now hold around 32.03 percent of the Capstone’s issued and outstanding common shares, will own around 23.75 percent of issued and outstanding common shares.

Orion Mine Finance is part of New York-based Orion Resource Partners, which specializes in institutional investment strategies in precious and base metals and minerals.