By Robb M. Stewart
Nouveau Monde Graphite's shares were under pressure after the company priced a $20 million equity raising well below recent trading levels.
In premarket trading, shares were 14% lower on the New York Stock Exchange after ending the previous session at $3.06. In Toronto, the stock was last at C$4.25, up 87% so far in 2025.
The company, which is developing graphite-mining and processing operations in Quebec, on Thursday said a public offering of about 8.33 million of its shares would be sold at $2.40 each. The stock will be offered solely in the U.S., and no shares will be sold in Canada.
Proceeds from the equity raising are earmarked for buying long-lead equipment, to begin certain construction activities, and to cover detailed engineering and indirect costs for the company's Matawinie mine project. Nouveau Monde said it also plans to fund engineering activities to deliver an estimate for its Becancour battery-material-plant project.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
December 18, 2025 08:16 ET (13:16 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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