NioCorp Developments Ltd.  (NASDAQ:NB)today announced the closing of its previously announced underwritten public offering in the United States. The Offering consisted of 7,692,308 common shares, without par value, of the Company (or pre-funded warrants in lieu thereof). Each Common Share was sold at a public offering price of $2.60. The gross proceeds from the Offering, before deducting underwriting discounts and offering expenses, were approximately $20.0 million.

In addition, on the closing date, the underwriter exercised in part its option to purchase up to an additional 323,504 Common Shares pursuant to the over-allotment option granted to the underwriter in connection with the offering for additional gross proceeds of approximately $0.8 million. As a result of the partial exercise of the over-allotment option, no further exercises of the over-allotment option may take place and the Offering is closed in its entirety.

Maxim Group LLC acted as sole book-running manager and underwriter for the Offering.

The Offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-280176), previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 13, 2024 and subsequently declared effective by the SEC on June 27, 2024.  NioCorp was permitted to offer and sell securities in both the United States and other jurisdictions outside of Canada. No securities were offered or sold to Canadian purchasers in the Offering.

A final prospectus supplement and accompanying prospectus relating to the Offering and describing the terms thereof has been filed with the SEC and forms a part of the effective registration statement and is available on the SEC’s website at www.sec.gov and on the Company’s profile on the SEDAR+ website at www.sedarplus.ca. Copies of the final prospectus supplement and accompanying prospectus may be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com