Ivanhoe Electric Inc. (IE) Announces June 27th IPO

Ivanhoe Electric Inc. (IE) is planning to raise $175 million in an initial public offering (IPO) on the week of June 27th, IPO Scoop reports. The company will be issuing 14,400,000 shares at $11.75-$12.50 per share.

In the last year, Ivanhoe Electric Inc. generated $9.9 million in revenue and had a net loss of $70 million. Ivanhoe Electric Inc. has a market-cap of $1.1 billion.

BMO Capital Markets, Jefferies and J.P. Morgan served as the underwriters for the IPO and Raymond James, RBC Capital Markets and Scotiabank were co-managers.

Ivanhoe Electric Inc. provided the following description of their company for its IPO: “(Note: This is an IPO – a dual listing on the NYSE American and the Toronto Stock Exchange (TSX) – both under the proposed stock symbol “IE”. Ivanhoe Electric, Inc. filed terms for its IPO in an S-1/A filing dated June 17, 2022. The S-1 (prospectus) was filed on May 24, 2022.) We are a United States domiciled minerals exploration and development company with a focus on developing mines from mineral deposits principally located in the United States in order to support American supply chain independence and to deliver the critical metals necessary for electrification of the economy. We believe the United States is significantly underexplored and has the potential to yield major new discoveries of these metals. *Note: In addition to its mining interests, Ivanhoe Electric also owns an energy storage (batteries) business and a geophysical data- processing business. The company has not produced any revenue yet from its mining activities, the prospectus said. Revenue and net loss figures are for the last 12 months as of March 31, 2022.  We are committed to the sustainable development of our projects by embedding environmental, social, and governance (“ESG”) criteria in our decision-making framework from the earliest stages of project exploration and development. We are committed to building upon our team’s strong ESG track record, including at Ivanhoe Mines Ltd. (“Ivanhoe Mines”), founded by Robert Friedland, our founder, leveraging best practices and seeking to establish Ivanhoe Electric as an ESG leader in the mining sector. Key considerations that will influence our decision making include, but are not limited to, using clean and renewable energy in our future mining operations, optimizing and minimizing our water resource utilization, minimizing our environmental footprint, ensuring workforce diversity and hiring from local communities, health, safety and environmental (“HSE”) performance as well as cultural heritage and biodiversity protection. Most importantly, our products also play a critical ESG role by enabling the clean energy transition. Our two material mineral projects are located in the United States and are known as the Santa Cruz Copper Project (“Santa Cruz”) in Arizona and the Tintic Copper-Gold Project (“Tintic”) in Utah. Santa Cruz is situated in a prolific mining region that hosts some of the largest copper mines in the United States. Tintic was a historically significant silver-producing district, as well as a copper and gold district, that we believe has the potential to host a world-class porphyry copper-gold deposit. We have the option to acquire 100% of the mineral rights constituting the Santa Cruz and Tintic projects. Our other key mineral projects are the Hog Heaven Silver-Gold-Copper Project (“Hog Heaven”), located in Montana, and the Sama Nickel-Copper-Palladium Project (the “Ivory Coast Project”), located in the Ivory Coast, in which we have both direct and indirect interests. (Note: The Street hears the pricing of this deal has been moved to the week of June 27, 2022; some see this deal on a “day to day” basis.) “.

Ivanhoe Electric Inc. was founded in 2010 and has 12000 employees. The company is located at 606 – 999 Canada Place Vancouver, BC V6C 3E1 Canada and can be reached via phone at (604) 689-8765 or on the web at http://www.ivanhoeelectric.com/.

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