Gold Royalty launches $30M IPO on NYSE

Vancouver-based Gold Royalty Corp. is seeking to raise $30 million through an initial public offering of 6,000,000 units at $5.00 apiece on the NYSE American.

Each unit consists of 1 common share and half of a warrant to purchase a common share, according to a Feb. 12 disclosure. Each whole warrant entitles the holder to buy 1 common share at a price of $7.50 apiece.

The underwriters for the IPO have a 30-day overallotments option to purchase up to an additional 900,000 common shares and/or warrants to purchase up to 450,000 common shares.

Gold Royalty said it applied to list its common shares and warrants on the NYSE American under the symbols GROY and GROY WS, respectively.

The company is a subsidiary of GoldMining Inc. established in 2020. Its portfolio includes net smelter return royalties ranging from 0.5% to 2% on 17 gold properties of GoldMining covering 11 projects in the U.S., Canada, Brazil, Colombia and Peru.