NioCorp Developments Ltd. (NASDAQ: NB) completed a U.S. public offering of 20 million common shares at $5.00 each, generating $100 million in gross proceeds. The offering closed on February 25, 2026, and the company will use the funds to advance the Elk Creek niobium, scandium, and titanium mine and processing facility in Nebraska.
The Elk Creek project is the centerpiece of NioCorp’s $1.141 billion capital plan. The company is still in a development phase, reporting no revenue and a trailing‑12‑month net loss of $60.1 million. The $100 million equity raise bridges a funding gap that will support drilling, permitting, and early construction activities while the company pursues additional debt financing from the U.S. Export‑Import Bank.
NioCorp’s focus on critical minerals aligns with U.S. national‑security priorities. The company has received a $10 million award from the Department of Defense for scandium supply‑chain development and is in discussions for up to $800 million in EXIM Bank financing. These government supports underscore the strategic importance of the Elk Creek project.
Prior to the announcement, the company’s shares fell 6% in pre‑market trading, a typical reaction to equity dilution. The offering is essential for maintaining the project’s momentum and for positioning NioCorp to meet future demand for niobium and scandium, which are expected to grow as electric‑vehicle and aerospace industries expand.
With the proceeds, NioCorp will move into the next phase of the Elk Creek project, including additional drilling, permitting, and the start of early construction. The company remains focused on securing the remaining capital needed to bring the mine to commercial operation while maintaining a strong balance sheet and no debt.
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