Past year: ▲ 58%(16.24 – 33.56 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Aug 2016capital raising announcement● NeutralMajor
IAMGOLD closed the bought-deal offering at $5.15 a share, with the underwriters taking the over-allotment option in full: 44,677,500 new shares sold for gross proceeds of $230M. This completes the equity offering announced on Aug 8, so the dilution is now fixed and the condition on the notes tender is met; the filing does not give an updated share count.
9 Aug 2016capital raising announcement● NeutralMajor
IAMGOLD agreed a bought-deal sale of 38,850,000 new shares at $5.15 each for about $200M (up to about $230M if the underwriters use a 5,827,500-share over-allotment option). Up to about $150M is earmarked for the 6.75% notes tender launched the day before, and the rest for growth projects (including the Sadiola mine expansion, subject to its joint venture partner's timely approval), debt reduction and general purposes. This is the equity offering the tender was conditional on, and it dilutes existing shareholders; the offering itself is not conditional on the tender.
22 Mar 2016capital raising announcement▲ GoodMajor
IAMGOLD sold 135,148 oz of its gold bullion holding between Feb 16 and Mar 17, 2016 at an average $1,260/oz for $170.3M ($170.1M after tax), against a $97.4M book value (after-tax gain $72.7M). It also issued 12.0 million flow-through shares in Q1 2016 at a weighted average C$3.41 to raise C$41M, which the CEO says funds about half of 2016 Westwood capital; shares outstanding are now 405.4 million. This follows the Feb 2016 note of ~$700M in cash and bullion and keeps Westwood's ramp-up (full production targeted for 2019) as a priority; the share issuance is dilutive.
17 Sept 2009capital raising announcement▲ Good
IAMGOLD announced that S&P added it to the S&P/TSX 60 index, Canada's large-cap index, effective September 21, 2009 (it was already on the S&P/TSX Composite). It involves no new financing, assets or production figures. The release restates the target of 1.8M oz of gold production by 2012.
26 Mar 2009capital raising announcement● NeutralMajor
IAMGOLD closed its share offering on March 26, 2009 at Cdn$8.75 per share, issuing 39,445,000 shares (including the full over-allotment option) for gross proceeds of Cdn$345,143,750. About $250 million of net proceeds is expected to fund Essakane construction, with the rest for other properties and general purposes including acquisitions. This resolves the offering announced March 9-10 and answers the Essakane financing thread, with equity funding in place of the earlier proposed debt facility (the filing says replacing 'all or substantially all' of it, so a small remainder is not ruled out). Shareholders' stakes are diluted by the new shares.
10 Mar 2009capital raising announcement● NeutralMajor
IAMGOLD signed the underwriting agreement for its share offering: 34.3 million shares at Cdn$8.75, for gross proceeds of Cdn$300,125,000, up from the roughly Cdn$275 million first announced. The underwriters hold an option for 5,145,000 more shares, which would bring proceeds to Cdn$345,143,750 if fully used. Planned use of proceeds is unchanged: Essakane construction (replacing all or substantially all of the previously proposed project debt facility and gold hedging) and other spending, with closing expected around March 26, 2009. This sets the final terms of the offering announced the day before.
9 Mar 2009capital raising announcement● NeutralMajor
IAMGOLD announced a planned share offering to raise about Cdn$275 million (about Cdn$316.25 million if the underwriters' 15% extra-share option is used in full), led by Canaccord and TD Securities. The money is meant mainly for building Essakane, replacing all or substantially all of the previously proposed Essakane project debt facility and related gold hedging, with the rest for other capital spending and general purposes including future acquisitions. Closing is expected around March 26, 2009. For shareholders this means new shares and dilution, and it follows up the open question of how Essakane construction would be financed after the Orezone purchase.
31 Dec 2008capital raising announcement● Neutral
IAMGOLD completed its Cdn$20 million private placement in Orezone, buying 71,428,571 Orezone shares at Cdn$0.28 each; it now holds about 16.6% of Orezone and held none before. This is the placement announced with the December 2008 all-share deal, which is still expected to close by end of February 2009, subject to an Orezone shareholder vote and final court approval.
