Financing ·
Largo raises $5.7M via registered direct offering of 10.2M shares and warrants at $0.56 per share
LGOLargo Inc.
Largo Inc. closed a registered direct offering of 10,200,000 common shares and warrants to purchase an equal number of shares at $0.56 per share and accompanying warrant, generating approximately US$5.7 million in gross proceeds. The warrants carry an exercise price of $0.70 and expire five years from issuance. Insiders, including ARC Fund IV LP (an affiliate of Co-CEO Alberto Arias) and Co-CEO Jim Bannantine, purchased 2,499,999 shares each on the same terms. Proceeds will support working capital and trade creditors. Largo Inc. is a supplier of vanadium and ilmenite products sourced from its Maracás Menchen Mine in Brazil.