HYCROFT MINING HOLDING CORP

Hycroft wiped out essentially all of its debt in one move: it bought back $120.8 million of subordinated notes (held by Mudrick, Whitebox, Highbridge and Aristeia, among others) at a 9% discount for $110.4 million cash, and paid off the last $15.1 million owed under its Sprott credit facility in full -- $125.5 million total, funded by its October stock raise, leaving only Sprott's royalty in place.

material agreement termination

Hycroft raised roughly $165 million selling stock at $6.50/share -- more than 4x its price from four months earlier -- earmarking the funds to expand exploration and drilling at the Hycroft mine and to retire its remaining debt at a discount.

material agreement

HYCROFT MINING HOLDING CORP's exchange filed to remove a class of its securities from listing.

listing compliance notice

Hycroft closed the $60 million private placement announced a week earlier.

capital raising announcement

As part of its 2025 turnaround, Hycroft agreed to raise $60 million in a private placement of units at $4.28 (stock plus warrants struck at $6.00) -- a much stronger price than its 2022-2023 crisis-era raises, funding continued exploration ahead of the October 2025 debt payoff.

capital raising announcement

Hycroft raised about $40.7 million selling stock-and-warrant units at $3.50 -- its share price now well clear of the $1.00 delisting threshold that had threatened it a year earlier, a sign of the turnaround underway.

material agreement

HYCROFT MINING HOLDING CORP's exchange filed to remove a class of its securities from listing.

listing compliance notice

Nasdaq moved to actually delist Hycroft's stock after it failed to fix its sub-$1.00 share price through two full compliance periods; the company said it would appeal to a Nasdaq hearings panel to stay listed.

listing compliance notice

Hycroft bought back $11.1 million of its subordinated notes from Highbridge Capital for $5.6 million cash plus 500,000 shares, and separately made a small voluntary paydown on its Sprott first-lien loan -- a first, modest step toward chipping away at its debt load.

material agreement

HYCROFT MINING HOLDING CORP's exchange filed to remove a class of its securities from listing.

listing compliance notice

Nasdaq issued Hycroft a fresh notice that its stock still doesn't meet the $1.00 minimum bid price requirement, restarting the compliance clock with a new deadline in April 2023.

listing compliance notice

Hycroft set up a $500 million at-the-market stock sales program with B. Riley Securities, giving it a standing way to raise equity gradually as it tries to fund its way out of its cash crunch.

material agreement

Amid its liquidity crisis, Hycroft agreed with lender Sprott to raise new equity by March 31, 2022 -- a lender-mandated capital raise rather than a discretionary one.

capital raising announcement

Hycroft disclosed it had ceased mining operations altogether and was in talks with its lenders to restructure its debt and capital structure, after Sprott granted further covenant relief -- the clearest sign yet of the company's going-concern crisis.

material agreement

With cash running low, Hycroft got its lender Sprott to relax minimum-cash covenants through May 2022, in exchange for locking in CEO Diane Garrett and CFO Stanton Rideout as required personnel until the loan is repaid -- a sign of mounting financial strain.

material agreement

Nasdaq warned Hycroft that its stock has traded below the $1.00 minimum bid price for 30 straight days, giving the company until June 2022 to regain compliance or risk delisting.

listing compliance notice

Hycroft restated its 2020 financial statements after new SEC guidance required SPAC-style warrants to be booked as liabilities rather than equity -- a paperwork fix tied to the 2020 Mudrick merger structure, not the mine's operations.

financial restatement

the exchange certified HYCROFT MINING HOLDING CORP's securities for listing, clearing them to begin trading.

listing compliance notice

Hycroft raised roughly $75 million in an upsized public offering of stock-and-warrant units at $9.00 each, its first capital raise as a newly public mining company.

material agreement

the exchange certified HYCROFT MINING HOLDING CORP's securities for listing, clearing them to begin trading.

listing compliance notice

Mudrick Capital completed its acquisition of Hycroft Mining and renamed itself Hycroft Mining Holding Corporation (Nasdaq: HYMC): the deal valued Hycroft at about $615 million, brought in $76 million via a private placement, and saw the company draw $70 million under a new $110 million Sprott credit facility plus take a $30 million upfront royalty payment from Sprott in exchange for a 1.5% royalty on the Hycroft mine.

business combination

HYCROFT MINING HOLDING CORP's exchange filed to remove a class of its securities from listing.

listing compliance notice

With its Hycroft acquisition proxy materials now mailed to shareholders, Mudrick Capital released an investor presentation touting Hycroft's restarted Nevada mine (18 million ounces of gold-equivalent reserves, a 34-year mine life) ahead of the vote.

merger communication

Amendment No. 2 fixed the vote: an April 17, 2020 record date for the Mudrick special meeting, against 15,512,091 Class A shares registered at $10.00 - roughly $155.1 million - as the consideration for the Allied Nevada Gold Holdings interests being bought from Hycroft Mining Corporation.

business combination

Mudrick Capital's blank-cheque vehicle registered the shares for its takeover of Hycroft Mining, the Nevada heap-leach operation that came out of Allied Nevada's bankruptcy. The arithmetic in the filing is the point: the SPAC's own public stockholders were projected to keep only about 1.9% of the listed company and the sponsor about 9.5%, with the rest going to Hycroft's creditor-owners and the financing; no appraisal rights, a Nasdaq vote needed because more than 20% of the stock is being issued, and a $12.73 million break fee payable by the seller if its holders refuse.

business combination

Mudrick Capital Acquisition Corporation (a SPAC) agreed to acquire Hycroft Mining Corporation, a Nevada gold and silver producer, in a roughly $325 million deal that also restructures Hycroft's debt (some notes exchanged for stock, some for cash) and brings in $65 million of new equity investment from Mudrick, Whitebox, Highbridge, Aristeia and Wolverine.

merger communication

Mudrick Capital signed the purchase agreement to acquire Hycroft Mining Corporation, the successor to bankrupt Allied Nevada Gold and operator of the Hycroft heap-leach gold/silver mine -- the deal that closed four months later and renamed the company Hycroft Mining Holding Corporation.

capital raising announcement

the exchange certified HYCROFT MINING HOLDING CORP's securities for listing, clearing them to begin trading.

listing compliance notice