Each one in plain English, with the numbers worked through for a shareholder.
9 May 2023capital raising announcement● Neutral
Wheaton renewed its at-the-market program, which lets it sell up to US$300 million of new common shares at its discretion, and ended the April 2020 agreement it replaces. The release says it never used the old program because of robust cash flows and access to debt, and any proceeds would go to funding stream purchases or general corporate purposes, including repaying debt. Nothing has been sold yet, so no dilution has happened; any future sales would add shares.
Wheaton amended its April 2020 at-the-market share sales agreement with the same group of banks, mainly to add the London Stock Exchange alongside the TSX and NYSE and to reflect Canadian territories and an additional April 9, 2021 Quebec translation exemption. The text shown contains no change to the US$300 million size and gives no figures on shares sold, so this is a housekeeping update to an existing program; any dilution depends on actual sales, which are not stated.
Wheaton signed an at-the-market equity program with a group of banks (BofA, BMO, RBC, Scotia and others) that lets it sell new common shares from time to time, for up to US$300 million in total gross sales. It is filed under the existing US$2 billion shelf prospectus. If shares are sold, existing shareholders are diluted; the filing text shown gives no sales, price or use of proceeds.
Silver Wheaton closed the share offering: 33,135,000 shares at US$16.60 for about US$550 million gross, led by RBC, BMO, CIBC and Scotiabank. The proceeds are meant to repay part of the US$2 billion credit facility drawn in November 2015 for the US$900 million Antamina silver stream. Underwriters hold an option for up to 4,970,250 more shares at the same price, which would raise gross proceeds to about US$632.5 million. The offering ended the automatic purchase plan under the share buyback; 3,060,454 shares had been bought back, and the buyback itself runs to September 22, 2016. Existing shareholders are diluted.
31 Mar 2016capital raising announcement● NeutralMajor
Silver Wheaton announced a US$500 million bought-deal share financing. Only the cover form and title were captured, with no price, share count or use of proceeds, so those details are not available here. It would dilute existing shareholders if completed, and it was soon increased (see the next filing).
31 Mar 2016capital raising announcement● NeutralMajor
Silver Wheaton increased its bought-deal share financing from US$500 million to US$550 million. Only the title was captured, with no price or share count in this filing. It continues the financing announced a day earlier.
17 Mar 2015capital raising announcement● NeutralMajor
Silver Wheaton closed the US$800 million bought-deal share offering announced with the Salobo deal: 38,930,000 shares sold at US$20.55 each, underwritten by a syndicate led by Scotiabank. The proceeds are intended to fund the additional 25% Salobo gold stream bought from Vale, so existing shareholders were diluted by the new shares issued. This resolves the equity-funding step of the March 2 announcement.
What it means for a shareholder
38.9m new shares at US$20.55 to raise about US$800m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
