Sunshine Silver Mining & Refining Company on Tuesday disclosed the pricing details for its initial public offering, setting the sale at 20 million common shares priced at $13.50 per share. The company also granted the underwriting syndicate a 30-day option to buy up to an additional 3 million shares at the same price, less underwriting discounts and commissions.
The firm said the common stock is expected to begin trading on the New York Stock Exchange on June 4, 2026, under the ticker symbol "SSMR." The offering is expected to close on June 5, 2026, subject to customary closing conditions.
Morgan Stanley, Scotiabank and BMO Capital Markets are serving as joint lead book-running managers for the transaction. Canaccord Genuity, Citigroup and RBC Capital Markets are listed as joint bookrunners.
Headquartered in Kellogg, Idaho, Sunshine Silver operates the Sunshine Mine and says it is the largest mineral rights holder in Idaho's Coeur d'Alene Mining District. The company runs a vertically integrated platform that includes mining, milling and refining operations. It noted an onsite silver refinery and that it holds permits for antimony production.
The company indicated the offering will be made through a prospectus, with copies available from the underwriters. It also disclosed that a registration statement has been filed with the U.S. Securities and Exchange Commission but has not yet become effective.
Clear summary
Sunshine Silver has priced its IPO at $13.50 per share for 20 million shares and provided underwriters a 30-day option to acquire 3 million more at the same price, less fees. The company expects its common stock to begin trading on the NYSE on June 4, 2026 under the ticker SSMR, and anticipates closing the offering on June 5, 2026, pending customary closing conditions and an effective registration statement.
Key details
- Offering size and price: 20 million shares at $13.50 per share, with a 30-day option for 3 million additional shares at the same price, less underwriting discounts and commissions.
- Listing timetable: Common stock expected to start trading on the NYSE on June 4, 2026; offering expected to close on June 5, 2026, subject to customary closing conditions.
- Underwriters: Joint lead book-running managers are Morgan Stanley, Scotiabank and BMO Capital Markets; Canaccord Genuity, Citigroup and RBC Capital Markets are joint bookrunners.
Business profile
Sunshine Silver is based in Kellogg, Idaho and operates the Sunshine Mine. The company states it is the largest mineral rights holder in Idaho's Coeur d'Alene Mining District and operates a vertically integrated operation including mining, milling and refining, with an onsite silver refinery and permits for antimony production.
Risks and uncertainties
- The registration statement filed with the U.S. Securities and Exchange Commission has not yet become effective, which could affect the timing or completion of the offering.
- The offering is expected to close subject to customary closing conditions, meaning completion is not guaranteed until those conditions are satisfied.
- The underwriters' option to purchase an additional 3 million shares is time-limited to 30 days and subject to underwriting discounts and commissions, which could affect the final size of the deal.
Copies of the prospectus will be available from the underwriters as the company proceeds toward listing. No additional information about proceeds, use of funds, or financial results was provided in the notice.