start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

2/22/16

The Pretium (PVG) term sheet

120 large at overnight marketed price. Explains at least one part of the recent weakness.


Pretium Resources Inc.. (TSX/NYSE: PVG) -- Overnight Marketed ~US$120MM of Common Shares -- Priced in the context of market (last trade: US$5.05)

Prospectus Timetable
February 22, 2016: Preliminary Prospectus Supplement FiledFebruary 23, 2016: Final Pricing/Terms and Prospectus Supplement Filed March 1, 2016: Closing of Offering
Transaction Summary
Leads: CIBC/RBC/Scotiabank 17.83% each
Co-Managers: TBD 46.51%
Treasury Issuer: Pretium Resources Inc. (“Pretium” or the “Company”) 
Issue:Offering (the “Offering”) of approximately ● common shares (the “Common Shares”). 
Issue Price: U.S.$● per Common Share, which shall be determined by the Company and the Underwriters in connection with the marketing process. 
AmountApproximately U.S.$120,000,000. 
Over-Allotment Option: The Company has granted the Underwriters an option, exercisable at the Issue Price for a period of 30 days following the closing of the Offering, to purchase up to an additional U.S.$10,000,000 of Common Shares to cover over-allotments, if any.  
Use of Proceeds:The Company intends to use the net proceeds of the Offering (i) to fund development of the Brucejack Project, (ii) for working capital during start-up and (iii) for general corporate purposes. 
Form of Offering:Offered by way of a shelf prospectus in all provinces of Canada, except Quebec, in the United States pursuant to the Multi-Jurisdictional Disclosure System, and internationally as expressly permitted by the Company.
ListingThe existing common shares of Pretium are listed on the TSX and the NYSE under the symbol “PVG”. 
Eligibility: The Common Shares issued in this offering will be a qualified investment for RRSPs, RRIFs, DPSPs, RDSPs, RESPs and TFSA’s. 
Pricing Date: On or about February 23, 2016.  
Closing Date: On or about March 1, 2016. 
Comment: This is an overnight marketed offering for Common Shares in US$ priced in the context of the market (last trade: US$5.05).