24 Feb 2023merger communication● Neutral
Further SEC filing related to the pending GXII merger.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Feb 2023quarterly activities report▼ Bad
NIOCORP DEVELOPMENTS LTD reported a quarterly net loss of $2.4 million for the period ended 2022-12-31.
13 Feb 2023business combination● Neutral
NioCorp filed further disclosures on its pending GXII merger.
13 Feb 2023merger communication● Neutral
Further SEC filing related to the pending GXII merger.
10 Feb 2023merger communication● Neutral
Further SEC filing related to the pending GXII merger, around the time NioCorp mailed its proxy materials to shareholders.
8 Feb 2023securities registration● Neutral
NIOCORP DEVELOPMENTS LTD filed the final prospectus for a registered offering.
6 Feb 2023business combination● Neutral
Amendment No. 4 broadened the two Yorkville shareholder proposals to cover every share, debenture and warrant that could be issued under those facilities rather than just shares issued "in connection with" them, and added the warning that while closing the Yorkville financings is not a condition of the merger, failing to close them may stop the merger from completing.
2 Feb 2023merger communication● Neutral
Further SEC filing related to the pending GXII merger.
31 Jan 2023business combination● NeutralMajor
Amendment No. 3 turned the Yorkville letters of intent into signed agreements dated 26 January -- $16 million of 5% convertible debentures running 18 months, extendable to 24, plus the $65 million equity facility, up to $80.36 million in all for Elk Creek -- and set out their events of default. Two other facts surfaced with it: GX had filed on 20 January to push its own deadline for completing a business combination from 22 March out to no later than 22 June 2023, and NioCorp had signed a non-binding term sheet with Lind Global Fund II for a $2.0 million bridge at a $2.2 million face value to pay for the Elk Creek feasibility study update.
27 Jan 2023capital raising announcement▼ BadMajor
Signed its largest and most consequential financing yet: up to $16 million of unsecured convertible debentures with Yorkville Advisors Global (an initial $10 million closing, $6 million more available later), 5% interest (15% in default) and forced monthly redemptions of $1.125 million plus a 7% premium once triggered -- capital that helped fund the pending GX Acquisition Corp. II merger already on record.
17 Jan 2023business combination● Neutral
Amendment No. 2 fixed the timetable and the numbers: 24 January 2023 record dates for both meetings, Nasdaq tickers NB and NIOBW, a $10.11 per-share trust redemption price, and 510,686,738 NioCorp shares plus 15,666,667 assumed warrants registered. It also disclosed a second $235,000 working-capital loan from the sponsor, taking its money at risk to $9,010,000, and non-binding letters of intent with Yorkville for $16 million of convertible debentures and the $65 million standby equity facility.
22 Dec 2022business combination● NeutralMajor
Amendment No. 1 put numbers on what the sponsor stands to make. GX Sponsor II LLC paid $25,000 for 7,500,000 founder shares and $8.5 million for founder warrants, and would hold 7.1% to 11.7% of the combined company if no GX holder redeems, or 14.3% to 22.2% if the maximum do -- worth $39.1 million to $67.1 million at NioCorp's then $0.82 share price. GenCap Mining Advisory's fairness opinion was added as an annex, along with a Nasdaq change-of-control analysis and a separate quorum amendment for NioCorp's own articles.
29 Nov 2022director interest notice● Neutral
NIOCORP DEVELOPMENTS LTD director Michael James Morris exercised stock options for 550,000 shares and disposed of 788,890 shares.
29 Nov 2022director interest notice● Neutral
NIOCORP DEVELOPMENTS LTD director Nilsa Guerrero-mahon exercised stock options for 800,000 shares and disposed of 1,139,317 shares.
29 Nov 2022director interest notice● Neutral
NIOCORP DEVELOPMENTS LTD President & CEO Mark A. Smith exercised stock options for 1,500,000 shares and disposed of 2,147,437 shares.
29 Nov 2022director interest notice● Neutral
NIOCORP DEVELOPMENTS LTD director David Coates Beling exercised stock options for 200,000 shares and disposed of 280,342 shares.
29 Nov 2022director interest notice● Neutral
NIOCORP DEVELOPMENTS LTD VP - External Affairs James T. Sims exercised stock options for 350,000 shares and disposed of 511,539 shares.
29 Nov 2022merger communication● Neutral
Further SEC filing related to the pending GXII merger.
29 Nov 2022director interest notice● Neutral
NIOCORP DEVELOPMENTS LTD Chief Operating Officer Scott Honan exercised stock options for 300,000 shares and disposed of 420,513 shares.
29 Nov 2022director interest notice● Neutral
NIOCORP DEVELOPMENTS LTD Chief Financial Officer Neal S. Shah exercised stock options for 229,000 shares and disposed of 309,000 shares.
14 Nov 2022quarterly activities report▼ Bad
NIOCORP DEVELOPMENTS LTD reported a quarterly net loss of $3.9 million for the period ended 2022-09-30.
9 Nov 2022merger communication● Neutral
Further SEC filing related to the pending GXII merger.
7 Nov 2022business combination● NeutralMajor
NioCorp registered the shares for its reverse merger with GX Acquisition Corp. II, the blank-cheque company whose trust would help fund the Elk Creek niobium, scandium and titanium project in Nebraska: each GX share converts at a fixed 11.1829212 NioCorp shares, and NioCorp picks up a Nasdaq listing alongside its Toronto one. How much cash actually arrives depends on how many GX holders take their money out of the trust instead, which is why the filing already contemplates a $65 million standby equity facility with Yorkville alongside it.
21 Oct 2022financial restatement▼ BadMajor
NioCorp's audit committee found an accounting error in how it recorded deferred financing costs and debt discounts when past loans were extinguished, forcing a restatement of its fiscal 2021 and 2022 financial statements.
12 Oct 2022merger communication▲ Good
In another investor interview, CEO Mark Smith described the GXII deal as an unusual reverse-SPAC structure where NioCorp, not the SPAC, is doing the acquiring, giving it a Nasdaq listing alongside its TSX listing.
11 Oct 2022merger communication▲ Good
NioCorp's CEO Mark Smith explained the pending GXII deal to investors in a media interview, calling the Nasdaq listing "a tremendous attribute" for the company.
7 Oct 2022merger communication● Neutral
Further SEC filing related to the pending GXII merger.
7 Oct 2022merger communication● Neutral
Further SEC filing related to the pending GXII merger.
7 Oct 2022merger communication● Neutral
Further SEC filing related to the pending GXII merger.
7 Oct 2022business combination● Neutral
NioCorp filed additional SEC disclosures on its pending GXII merger.