Nouveau Monde Graphite Shares Fall on $213M Private Placement, $84M Public Offering

Dow Jones04-10 06:02

By Elias Schisgall

Shares of Nouveau Monde Graphite fell after the company said it will raise $213 million through a private placement of three equity investments and $84 million through a bought deal public offering of subscription receipts to fund the company's Phase-2 Matawinie Mine.

Shares fell 12% to $2.06 in after-hours trading Thursday.

The battery-materials and mining company said it entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and National Bank Capital Markets on a "bought deal" basis at a price of $1.84 per subscription receipt, with each subscription receipt representing the right to one share. The right is contingent on the closure of the private placement.

The underwriters have a 30-day option to buy an additional 15% of the offering to cover over-allotments, NMG said.

The private placement consists of a $82 million equity investment by the Canada Growth Fund, a $61 million investment by the Government of Québec, and a $70 million investment by energy company Eni.

Those investments total about 115.8 million shares at $1.84 a share, NMG said.

The proceeds from the offering and private placement, together with previously announced debt facilities totalling $335 million, are expected to fully fund the design, engineering, and construction of the Phase-2 Matawinie Mine.

The new funding "positions NMG to advance toward final investment decision and construction," the company said.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

April 09, 2026 18:02 ET (22:02 GMT)

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