Hycroft Mining Prices $43.75M Underwritten Offering Of 12.5M Units At $3.50 Each

Hycroft Mining Holding Corporation (NASDAQ:HYMC) ("Hycroft" or the "Company") is pleased to announce the pricing of an underwritten offering of 12,500,000 units of the Company (the "Units") at a public offering price of $3.50 per Unit (the "Offering"). Each Unit consists of one share of common stock of the Company and one-half of one common stock purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable to purchase one share of common stock of the Company at a price of $4.20 per share, exercisable for a period of 36 months. The shares of common stock and Warrants will be issued separately but can only be purchased together in the Offering. The gross proceeds from the Offering are expected to be approximately $43,750,000, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, Hycroft has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 units, shares of common stock and/or Warrants, at the underwriters' discretion.

The Offering is expected to close on June 13, 2025, subject to customary closing conditions.

Hycroft intends to use the net proceeds from the Offering for further exploration, working capital and general corporate purposes.

BMO Capital Markets and Paradigm Capital Inc. are acting as joint book-running managers for the Offering. SCP Resource Finance LP is acting as a capital markets advisor to the Company.