Gatos Silver (GATO) IPO Opens Modestly Lower

Today's IPO for Gatos Silver, Inc. (NYSE: GATO) opened for trading at $6.50 after pricing 21,430,000 shares of its common stock at a price of US$7.00 per share.

In addition, Gatos Silver has granted the underwriters a 30-day option to purchase up to an additional 3,214,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

BMO Capital Markets, Goldman Sachs & Co. LLC and RBC Capital Markets are acting as joint lead bookrunners and as representatives of the underwriters for the offering. Canaccord Genuity Corp. and CIBC Capital Markets are acting as co-managers for the offering.

Gatos Silver is a U.S.-based precious metals production, development and exploration company that recently commissioned its first mine, Cerro Los Gatos, at the Los Gatos District in Chihuahua state, Mexico. Upon achieving full production, Cerro Los Gatos is expected to produce silver, zinc, lead and gold averaging 12.2 million silver equivalent ounces annually.

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