Triple Flag CEO Shaun Usmar
Gold-focused streaming and royalty firm Triple Flag, which a former Barrick CFO Shaun Usmar founded in 2016, has announced that it plans to raise $250-million in an initial public offering (IPO).
The offering contemplates a treasury offering priced at between $11.50 and $14.50, the proceeds of which will be used for the repayment of existing indebtedness.
The offering is being co-led by Bofa Securities, Credit Suisse, and Scotiabank, together with CIBC Capital Markets, BMO Capital Markets, National Bank Financial, RBC Capital Markets and TD Securities as underwriters.
Triple Flag offers “bespoke financial solutions” to the metals and mining industry. Since its inception, the company has constructed a diversified portfolio of streams and royalties, providing exposure to gold and silver in the Americas and Australia. These investments are tied to mining assets at various stages of the mine life cycle, including 15 producing mines and 60 development and exploration stage projects.