NioCorp Developments Ltd (NASDAQ:NB) shares are trading lower by 8.18% to $1.46 Monday morning after the company announced the pricing of a public and a private offering.

What To Know: The public offering includes 1,592,356 common shares, along with Series A and Series B warrants, priced at $1.57 per unit for approximately $2.5 million in gross proceeds.

The private offering includes 2,199,888 common shares with similar warrants, aimed at raising around $3.5 million. Both Series A and Series B warrants have different exercise prices and expiration terms.

Maxim Group LLC is managing the public offering, and NioCorp plans to use the funds for general corporate purposes, including advancing the Elk Creek Project, a critical minerals project in Nebraska, and repaying a $2 million credit facility.

The offerings are expected to close on November 5 and November 11, pending customary conditions.

Read Also: US Stocks Likely To Open In Green Amid Hints Of Tentativeness On Election Eve: Expert Says Brace For Volatility Ahead Of Fed's Rate Decision

According to data from Benzinga Pro, NB has a 52-week high of $4.39 and a 52-week low of $1.58.