Osisko Development Corp. (ODV) Form 6-K — Jun 1, 2026
Osisko Development Corp. (ODV) has closed a US$300 million offering of 4.125% convertible senior notes due 2031, consisting of a US$225 million base offering, a US$25 million option exercise, and a US$50 million private placement to affiliate Double Zero Capital. The transaction yields approximately US$290 million in net proceeds, with US$40.2 million allocated to capped call transactions that mitigate dilution up to a share price of US$5.88, effectively raising the conversion premium from 25% to 100%. The company intends to use the remaining net proceeds for the development of its flagship Cariboo Gold Project in British Columbia and for general corporate purposes.
Key figures
- Debt Amount
- 300000000
- Interest Rate
- 4.125
- Maturity Date
- June 15, 2031
- Gross Proceeds
- 300000000
- Net Proceeds
- 290000000
- Capped Call Cost
- 40200000
- Conversion Premium
- 25.0%
- Base Offering Amount
- 225000000
- Capped Call Cap Price
- 5.88
- Broker Warrants Issued
- 1279536
- Option Exercise Amount
- 25000000
- Initial Conversion Price
- 3.68
- Private Placement Amount
- 50000000
- Effective Conversion Premium
- 100.0%
AI analysis
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