Alio Gold: A Genius Step Or A Fault? [Seeking Alpha]
ALIO GOLD CORP (ALO)
Last alio gold corp earnings: 8/10 07:00 am
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US:NYSE Investor Relations:
aliogold.com/investors
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Source: Seeking Alpha
Summary Alio Gold (NYSEMKT: ALO ) experienced a steep share price decline on Thursday after the company announced a $50 million bought deal financing. As part of the financing, Alio Gold will issue 8 million new shares and 4 million warrants convertible at a share price of C$8 ($6.17, using the current USD/CAD exchange rate of 1.29635). Every unit consisting of one share and one-half of a warrant was priced at C$6.25 ($4.82). The reaction of the market was quick and negative. Alio's share price declined by 21%, and it erased all of the gains recorded during June. ALO data by YCharts After the deal is closed (expected around July 20), there should be 43.6 million shares outstanding and 50.42 million shares fully diluted. It means that the equity financing should increase the outstanding share count by 22.47% and the fully diluted share count by 31.2%. The share dilution is significant; however, it was long known that Alio Gold will probably need to raise som
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