Private Placement

IMPACT Silver (TSXV: IPT) raised C$3.93 million via a dual-tranche private placement, combining C$1.66 million from a LIFE offering (C$0.20/unit) and C$2.27 million from standard units (C$0.18/unit), with tiered warrants exercisable at C$0.24–0.26. Proceeds will accelerate exploration at Mexico’s Plomosas zinc-lead-silver project and revive the Zacualpan silver district, alongside operational upgrades. The financing introduces 15% dilution (20.9M shares), potentially reaching 31.7% if warrants fully convert. While immediate liquidity from LIFE shares benefits investors, challenges include declining Zacualpan silver grades and discontinuous mineralization at Plomosas requiring new discoveries to offset risks.

Southern Company priced $1.45 billion in 3.25% Convertible Senior Notes due 2028, a $200 million increase from its initial target. The notes, convertible at $113.54/share (25% premium over May 20 closing price), were issued privately under SEC Rule 144A. Proceeds (~$1.44 billion, rising to $1.63 billion if options are exercised) will refinance existing debt, cover commercial paper, and support corporate activities, including potential subsidiary investments. Southern noted potential stock volatility due to investor hedging adjustments. The offering, set to close by May 23, 2025, excludes public registration, restricting resale under U.S. securities laws.