Largo closes $5.7M direct offering at $0.56 per share

Largo Inc. (TSX: LGO) (NASDAQ: LGO) has closed a registered direct offering of 10,200,000 common shares and warrants to purchase up to 10,200,000 additional common shares, raising approximately $5.7 million in gross proceeds.

The shares were priced at $0.56 each, with accompanying warrants carrying an exercise price of $0.70 per share. The warrants are immediately exercisable and expire five years from issuance.

H.C. Wainwright & Co. served as the exclusive placement agent for the offering, receiving customary agency fees and broker warrants upon closing.

Largo said the net proceeds will be used for working capital purposes, including payment of trade creditors.

Company insiders participated in the offering. Arias Resource Capital Fund IV LP, an affiliate of Co-Chief Executive Officer Alberto Arias and the company's largest shareholder, along with Co-Chief Executive Officer Jim Bannantine, collectively purchased 2,499,999 common shares and 2,499,999 warrants on the same terms as other investors. The company said the insider participation qualifies as a related party transaction under Multilateral Instrument 61-101 but noted it is relying on exemptions from formal valuation and minority approval requirements, as neither insider's transaction exceeded 25% of the company's market capitalization.

The securities were offered pursuant to an effective shelf registration statement on Form F-3 previously filed with the U.S. Securities and Exchange Commission, declared effective on September 19, 2025.

Largo is a vanadium and ilmenite supplier operating the Maracás Menchen Mine in Brazil.

You May Also Be Interested In

• Pyxis Oncology terminates $150M ATM stock offering program
• Stifel Starts Achieve Life Sciences (ACHV) at Buy
• Boeing wins $20B U.S. Navy contract for sixth-generation fighter jet