Item 8.01. Other Events.
On June 4, 2019, Coeur Mining, Inc. (“Coeur” or the “Company”) completed its previously announced “at the market” offering of $50.0 million of its common stock, par value $0.01 per share (the “Offering”). The Offering was conducted pursuant to an Equity Distribution Agreement, entered into on May 20, 2019 between the Company and Citigroup Global Markets Inc. as the sales agent. The Company sold a total of 16,630,444 shares in the Offering, raising net proceeds (after sales commissions) of $49.0 million.
The Company intends to use the net proceeds from the Offering to reduce outstanding indebtedness and for general working capital purposes.
Cautionary Note Regarding Forward-Looking Statements
The information contained in this Current Report on Form 8-K contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including Coeur’s intended use of proceeds of the Offering. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur’s actual results, performance or achievements, including its use of proceeds, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties and other factors include the risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions); changes in the market prices of gold, silver, zinc and lead and a sustained lower price environment; the uncertainties inherent in the Company’s production, exploratory and developmental activities, including risks relating to permitting and regulatory delays (including the impact of government shutdowns), ground conditions and grade variability; any future labor disputes or work stoppages (involving the Company and its subsidiaries or third parties); the uncertainties inherent in the estimation of gold, silver, zinc and lead reserves and mineralized material; changes that could result from the Company’s future acquisition of new mining properties or businesses; the loss of access to any third-party smelter to whom the Company markets silver and gold; the effects of environmental and other governmental regulations; the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries; and the Company’s ability to raise additional financing necessary to conduct its business, make payments or refinance its debt., as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur’s most recent reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.