Brazil Potash intends to use the net proceeds of the offering primarily to fund its pre-operation development expenses, to pay its current liabilities, and for working capital and general corporate purposes, which will include, among others, expenses relating to (i) obtaining and complying with its environmental licenses, (ii) engineering, procurement and construction for critical path items, and (iii) other pre-development matters, such as obtaining the environmental license, the mining concession, and other remaining required authorizations, permits and licenses for the Autazes Project, purchasing the remaining land for certain project sites, primarily consisting of the sites to be used for the dry stacked tailings piles, and maintaining its mineral rights.Cantor Fitzgerald & Co., Banco Bradesco BBI S.A., Roth Capital Partners, LLC, Clarksons Securities, Inc.and Freedom Capital Markets acted as underwriters in the IPO.
MANAUS, Brazil, Nov.29, 2024 (GLOBE NEWSWIRE) -- Brazil Potash Corp.("Brazil Potash" or the "Company") announced today the closing of its initial public offering (the "IPO") of 2,000,000 of its common shares, no par value per share ("Common Shares"), at a price to the public of US$15.00 per share.
In addition, the Company has granted the underwriters an option to purchase up to an additional 300,000 Common Shares, for a period of 30 days from the date of the final prospectus, to cover over-allotments, if any.
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