B.C.’s General Fusion is readying to go public in a transaction that could give it access to up to US$338 million in capital while giving the company an approximate US$1 billion Nasdaq valuation.
Most of that capital comes from the US$230 million that is already on the balance sheet of a company General Fusion aims to merge with as a way of going public. The remaining US$108 million comes from capital large institutional investors have pledged on the condition that the company go public.
General Fusion plan to go public follows Vancouver-based Lumina Metals Corp. (TSX:LMCU) raising $406.2 million—more than initially expected—in an initial public offering (IPO) on the Toronto Stock Exchange (TSX) in
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