i-80 Gold falls after upsized $250 million convertible bonds sale

Nevada-focused mining company i-80 Gold's IAUX.A shares fall 3.6% to $1.35 premarket

IAUX announces pricing of upsized offering of $250 million unsecured convertible bonds due 2031

Stock slipped 13.6% on Wednesday after IAUX kicked off the convertible bonds offering

Initial conversion price of $1.93 per share represents roughly 37.5% premium to the last close

Proceeds will be used to fund IAUX's five gold projects, resource expansion, infill drilling and refurbishing the Lone Tree processing plant, among other purposes

IAUX has 841 million outstanding shares with a $1.13 billion market cap - data compiled by LSEG

As of last close, IAUX stock down 4% YTD