Golden Minerals Announces Exercise of Over-AllotmeGolden Minerals Company (NYSE Amex: AUMN) (TSX: AUM) ("Golden Minerals" or "the Company") is pleased to announce that the underwriters have fully exercised an over-allotment option to purchase an additional 608,250 shares of the Company's common stock in connection with its public offering that priced on October 7, 2010. In addition, the Company has entered into an agreement with its largest stockholder, The Sentient Group, pursuant to which Sentient has agreed to purchase a total of 1,190,031 shares at the public offering price of US$18.50 per share in a private placement pursuant to Regulation S under the U.S. Securities Act of 1933. Closing of the public offering, including the over-allotment option, and the private placement is expected to occur on or about October 22, 2010.
Including the over-allotment shares being purchased by the underwriters and the private placement shares being purchased by The Sentient Group, the public offering and private placement will total 5,853,281 shares at a price of US$18.50 per share, resulting in expected net proceeds to the Company of approximately $103.0 million after deducting underwriting discounts, placement agent fees and estimated offering expenses.
Canaccord Genuity Corp. is the sole book-running manager and Dundee Securities Corporation, Haywood Securities Inc., Rodman & Renshaw, LLC, Roth Capital Partners and Scarsdale Equities LLC are co-managers for the offering.