Our lawyers provide innovative and practical counsel on a wide variety of capital raising and securities law compliance matters. We represent clients ranging from emerging private companies to established public companies. With each, we build long-term relationships, generating efficiencies and helping them realize their business goals.
Pretium Resources Inc. Closes Initial Public Offering and United States Private Placement
Practices
On December 21, Pretium Resources Inc. closed its initial public offering in Canada and private placement in the United States of its common stock. Pretium is a start-up company that intends to acquire, explore and develop gold and precious metals resource properties.
Under the offering, Pretium issued 44.17 million common shares at a price of $6.00 per share for gross proceeds of $265 million. Pretium used $215 million of the proceeds to fund a portion of its acquisition of certain pre-development gold resource projects in Northern British Columbia from Paul, Weiss client, Silver Standard Resources, Inc.
Paul, Weiss acted as special United States counsel to Pretium and Silver Standard. The Paul, Weiss team included corporate partner Edwin S. Maynard and tax partner David W. Mayo.