Vancouver's Silver Standard Resources Inc. (TSX:SSO) has raised approximately US$48.3 million in a public offering of shares.
Net proceeds of the offering will be used to fund development of its mineral properties and for working capital purposes as well as repay outstanding debt.
Its principal projects include the Pirquitas silver project in Argentina, the San Luis gold-silver project in Peru and the Pitarrilla project in Mexico.
Silver Standard issued roughly three million shares at US$17 per share in the public offering. UBC Securities Canada Inc. acted as lead manager and sole book runner. Deutsche Bank Securities Inc, Credit Suisse Securities (USA) LLC, Dahlman Rose & Co. LLC, Morgan Stanley and Co. Inc., CIBC World Markets, Scotia Capital, Blackmont Capital, GMP Securities LP, National Bank Financial and Salman Partners acted as co-managers of the offering.
Silver Standard's share price range during the past week: between $19.52 and $20.17; 52-week high: $29.17: 52-week low: $6.87.