Altius Minerals (TSX:ALS) prices 3M shares at C$60.50 each in a bought deal to strengthen its balance sheet after several 2026 acquisitions.
Alpha Score of 52 reflects moderate overall profile with strong momentum, weak value, weak quality, moderate sentiment.
Altius Minerals Corporation priced a bought deal offering of 3 million common shares at C$60.50 each, raising C$181.5 million in gross proceeds. National Bank Financial and Scotia Capital are co-bookrunners, alongside TD Securities. The underwriters have an option to buy an additional 15% of the shares within 30 days after closing to cover over-allotments.
The company plans to use the net proceeds to strengthen its balance sheet after several acquisitions completed in 2026. Altius is also adjusting and expanding its credit facilities to integrate those deals. The offering bolsters liquidity while keeping leverage conservative, the company said.
Closing is expected on or about July 21, subject to Toronto Stock Exchange approval and other conditions. The shares are being offered in most Canadian provinces by prospectus supplement, and to qualified institutional buyers in the U.S. under Rule 144A.
Altius holds a diversified portfolio of royalty assets covering potash, high-purity iron ore, electricity, base metals, and gold. The company's stated strategy is per-share growth through long-life, high-margin operations. It also runs a project generation business that originates mineral projects for sale to developers in exchange for royalties.
The offering follows a busy M&A period for Altius this year. The company said the capital raise positions it to consider additional accretive opportunities while maintaining its conservative leverage profile.
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