OTTAWA (dpa-AFX) - Golden Minerals Co. (AUMN, AUM.TO) on Friday said it has entered into an underwriting agreement with Wells Fargo Securities to sell 5.5 million units, comprising one share of common stock and a five year warrant to acquire one half of a share of common stock at an exercise price of $8.42, at a price of $5.75 per unit.
Net proceeds, after underwriting discounts and estimated offering costs, will be around $29.5 million. The underwritten offering is expected to be completed on September 19.
Golden Minerals intends to use the net proceeds from the offering to continue the development and incremental expansion of the Velardena Operations in Mexico.
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