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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 7/12/21 Gatos Silver, Inc. S-1 15:2.1M Toppan Merrill/FA |
Document/Exhibit Description Pages Size 1: S-1 Registration Statement (General Form) HTML 457K 2: EX-1.1 Underwriting Agreement or Conflict Minerals Report HTML 227K 3: EX-5.1 Opinion of Counsel re: Legality HTML 10K 4: EX-10.17.1 Material Contract HTML 44K 5: EX-10.18.1 Material Contract HTML 591K 6: EX-23.1 Consent of Expert or Counsel HTML 7K 14: EX-23.10 Consent of Expert or Counsel HTML 10K 15: EX-23.11 Consent of Expert or Counsel HTML 9K 7: EX-23.2 Consent of Expert or Counsel HTML 7K 8: EX-23.4 Consent of Expert or Counsel HTML 10K 9: EX-23.5 Consent of Expert or Counsel HTML 9K 10: EX-23.6 Consent of Expert or Counsel HTML 9K 11: EX-23.7 Consent of Expert or Counsel HTML 10K 12: EX-23.8 Consent of Expert or Counsel HTML 9K 13: EX-23.9 Consent of Expert or Counsel HTML 10K
tm2119845-2_s1 - none - 6.7969072s |
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Delaware
(State or Other Jurisdiction of Incorporation or Organization) |
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1040
(Primary Standard Industrial Classification Code Number) |
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27 2654848
(I.R.S. Employer Identification Number) |
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Large accelerated filer
☐
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Accelerated filer
☐
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Non-accelerated filer
☒
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Smaller reporting company
☒
Emerging growth company
☒
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Title of Each Class of Securities
to Be Registered |
| | |
Proposed Maximum
Aggregate Offering Price(1)(2) |
| | |
Amount of
Registration Fee |
| ||||||
Common Stock, par value $0.001 per share
|
| | | | $ | 185,906,240 | | | | | | $ | 20,282.37 | | |
| | |
Per Share
|
| |
Total
|
| ||||||
Public offering price
|
| | | $ | | | | | $ | | | ||
Underwriting discounts and commissions(1)
|
| | | $ | | | | | $ | | | ||
Proceeds, before expenses, to: | | | | | | | | | | | | | |
Us
|
| | | $ | | | | | $ | | | ||
The selling stockholders
|
| | | $ | | | | | $ | | | |
| BMO Capital Markets | | |
Goldman Sachs & Co. LLC
|
| |
RBC Capital Markets
|
|
| Canaccord Genuity | | | | | |
CIBC Capital Markets
|
|
| | |
Page
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| | | | 1 | | | |
| | | | 9 | | | |
| | | | 12 | | | |
| | | | 14 | | | |
| | | | 15 | | | |
| | | | 16 | | | |
| | | | 17 | | | |
| | | | 18 | | | |
| | | | 21 | | | |
| | | | 25 | | | |
| | | | 27 | | | |
| | | | 30 | | | |
| | | | 32 | | | |
| | | | 39 | | | |
| | | | 39 | | | |
| | | | 40 | | |
CLG Production (100% Basis)
|
| |
Q2 2021
|
| |
Q1 2021
|
| ||||||
Tonnes mined (wet metric tonne – unreconciled)
|
| | | | 240,047 | | | | | | 209,832 | | |
Tonnes milled (dry metric tonne – reconciled)
|
| | | | 230,656 | | | | | | 203,479 | | |
Tonnes milled per day (dry metric tonne) | | | | | 2,535 | | | | | | 2,261 | | |
Average Grades
|
| | | | | | | | | | | | |
Silver grade (g/t)
|
| | | | 322 | | | | | | 261 | | |
Gold grade (g/t)
|
| | | | 0.35 | | | | | | 0.32 | | |
Lead grade (%)
|
| | | | 2.51 | | | | | | 2.00 | | |
Zinc grade (%)
|
| | | | 4.41 | | | | | | 3.24 | | |
Contained Metal | | | | | | | | | | | | | |
Silver ounces (millions)
|
| | | | 2.1 | | | | | | 1.5 | | |
Gold ounces – in lead concentrate (thousands)
|
| | | | 1.5 | | | | | | 1.1 | | |
Lead pounds – in lead concentrate (millions)
|
| | | | 11.2 | | | | | | 7.6 | | |
Zinc pounds – in zinc concentrate (millions)
|
| | | | 14.5 | | | | | | 8.7 | | |
CLG Production (100% Basis)
|
| |
Q2 2021
|
| |
Q1 2021
|
| ||||||
Recoveries (combined lead and zinc concentrate) | | | | | | | | | | | | | |
Silver
|
| | | | 89% | | | | | | 85% | | |
Gold
|
| | | | 63% | | | | | | 60% | | |
Lead
|
| | | | 90% | | | | | | 87% | | |
Zinc
|
| | | | 75% | | | | | | 71% | | |
| | |
Year Ended December 31,
|
| |
Three Months Ended March 31,
|
| ||||||||||||||||||
| | | | |
2019
|
| |
2021
|
| |
2020
|
| |||||||||||||
| | |
(in thousands, except for share and per share amounts)
|
| |||||||||||||||||||||
Statement of Loss Data: | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Exploration
|
| | | $ | 785 | | | | | $ | 923 | | | | | $ | 224 | | | | | $ | 171 | | |
General and administrative
|
| | | | 7,765 | | | | | | 2,903 | | | | | | 3,603 | | | | | | 837 | | |
Amortization
|
| | | | 30 | | | | | | 34 | | | | | | 7 | | | | | | 8 | | |
Total expenses
|
| | | | 8,580 | | | | | | 3,860 | | | | | | 3,834 | | | | | | 1,016 | | |
Other (income) expense: | | | | | | | | | | | | | | | | | | | | | | | | | |
Dilution loss on affiliates
|
| | | | — | | | | | | 11,231 | | | | | | — | | | | | | — | | |
Equity (income) loss in affiliates
|
| | | | 17,585 | | | | | | 12,865 | | | | | | (2,701) | | | | | | 13,445 | | |
Arrangement fees
|
| | | | 4,843 | | | | | | 2,988 | | | | | | 506 | | | | | | 1,575 | | |
Interest expense
|
| | | | 4,047 | | | | | | — | | | | | | — | | | | | | — | | |
Other (income) loss
|
| | | | (28) | | | | | | (36) | | | | | | (19) | | | | | | 5 | | |
Net other (income) expense
|
| | | | 26,447 | | | | | | 27,048 | | | | | | (2,214) | | | | | | 15,025 | | |
Net loss from continuing operations
|
| | | | 35,027 | | | | | | 30,908 | | | | | | 1,620 | | | | | | 16,041 | | |
Loss from discontinued operations
|
| | | | 5,414 | | | | | | 6,910 | | | | | | — | | | | | | 1,780 | | |
Net loss
|
| | | $ | 40,441 | | | | | $ | 37,818 | | | | | $ | 1,620 | | | | | $ | 17,821 | | |
Net loss per share: | | | | | | | | | | | | | | | | | | | | | | | | | |
From continuing operations, basic and diluted(1)
|
| | | $ | 0.80 | | | | | $ | 0.79 | | | | | $ | 0.03 | | | | | $ | 0.40 | | |
From discontinued operations, basic and diluted(1)
|
| | | $ | 0.13 | | | | | $ | 0.18 | | | | | | — | | | | | $ | 0.04 | | |
Basic and diluted(1)
|
| | | $ | 0.93 | | | | | $ | 0.97 | | | | | $ | 0.03 | | | | | $ | 0.44 | | |
Weighted average shares outstanding, basic and
diluted(1) |
| | | | 43,655,601 | | | | | | 38,967,038 | | | | | | 59,473,566 | | | | | | 40,505,079 | | |
| | | | ||||||||||
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Actual
|
| |
As Adjusted(1)
|
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| | |
(in thousands)
|
| |||||||||
Balance Sheet Data: | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 31,031 | | | | | $ | 11,976 | | |
Total assets
|
| | | | 265,680 | | | | | | 390,325 | | |
Total liabilities
|
| | | | 3,539 | | | | | | 19,950(2) | | |
Total shareholders’ equity
|
| | | | 262,141 | | | | | | 370,375 | | |
| | | | ||||||||||
| | |
Actual
|
| |
As Adjusted(1)
|
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| | |
(in thousands)
|
| |||||||||
Cash and cash equivalents
|
| | | $ | 31,031 | | | | | $ | 11,976 | | |
Investment in affiliates
|
| | | | 226,060 | | | | | | 369,760 | | |
Long-term debt
|
| | | | — | | | | | | 16,411(2) | | |
Shareholders’ equity
|
| | | | | | | | | | | | |
Common stock, $0.001 par value; 700,000,000 shares authorized; 59,409,052 shares outstanding, actual; 65,909,052 shares outstanding, as adjusted
|
| | | | 108 | | | | | | 115 | | |
Paid in capital
|
| | | | 412,103 | | | | | | 531,440 | | |
Accumulated deficit
|
| | | | (149,043) | | | | | | (160,152) | | |
Treasury stock, at cost, 144,589 shares, actual and as adjusted
|
| | | | (1,027) | | | | | | (1,027) | | |
Total shareholders’ equity
|
| | | | 262,141 | | | | | | 370,375 | | |
Total capitalization
|
| | | $ | 262,141 | | | | | $ | 386,786 | | |
|
Assumed public offering price per share
|
| | | | | | | | | $ | 19.43 | | |
|
Consolidated net tangible book value per share as of March 31, 2021
|
| | | $ | 4.41 | | | | | | | | |
|
Increase in consolidated net tangible book value per share attributable to investors purchasing shares in this offering
|
| | | | 0.96 | | | | | | | | |
|
As adjusted consolidated net tangible book value per share as of March 31, 2021 after giving effect to this offering
|
| | | | | | | | | | 5.37 | | |
|
Dilution per share to investors purchasing shares in this offering
|
| | | | | | | | | $ | 14.06 | | |
| | | | | | | | | | | | | | |
Percentage of Shares of Common
Stock Beneficially Owned |
| |||||||||
Name of Beneficial Owner
|
| |
Shares of
Common Stock Beneficially Owned |
| |
Number of
Shares of Common Stock Offered Hereby† |
| |
Before This
Offering |
| |
After This
Offering |
| ||||||||||||
Greater than 5% Stockholders and Selling Stockholders:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Electrum(1): | | | | | | | | | | | | | | | | | | | | | | | | | |
Electrum Silver US LLC
|
| | | | 19,993,086 | | | | | | 1,268,643 | | | | | | 33.7% | | | | | | 28.4% | | |
Electrum Silver US II LLC
|
| | | | 4,591,627 | | | | | | 291,357 | | | | | | 7.7% | | | | | | 6.5% | | |
Total
|
| | | | 24,584,713 | | | | | | 1,560,000 | | | | | | 41.4% | | | | | | 34.9% | | |
Municipal Employees’ Retirement System of
Michigan(2) |
| | | | 6,232,384 | | | | | | 260,000 | | | | | | 10.5% | | | | | | 9.1% | | |
FMR LLC(3)
|
| | | | 8,877,461 | | | | | | — | | | | | | 14.9% | | | | | | 13.5% | | |
Directors and Named Executive
Officers: |
| | | | | | | | | | | | | | | | | | | | | | | | |
Janice Stairs(7)(9)
|
| | | | 45,561 | | | | | | — | | | | | | * | | | | | | * | | |
Ali Erfan(4)(7)(9)
|
| | | | 116,860 | | | | | | — | | | | | | * | | | | | | * | | |
Igor Gonzales(7)(9)
|
| | | | 28,216 | | | | | | — | | | | | | * | | | | | | * | | |
Karl Hanneman(7)(9)
|
| | | | 61,895 | | | | | | — | | | | | | * | | | | | | * | | |
Charles Hansard(7)(9)
|
| | | | — | | | | | | — | | | | | | * | | | | | | * | | |
Igor Levental(5)(7)(9)
|
| | | | 133,446 | | | | | | — | | | | | | * | | | | | | * | | |
Stephen Orr(6)(7)
|
| | | | 1,356,689 | | | | | | — | | | | | | 2.3% | | | | | | 2.1% | | |
David Peat(7)(9)
|
| | | | 166,917 | | | | | | — | | | | | | * | | | | | | * | | |
| | | | | | | | | | | | | | |
Percentage of Shares of Common
Stock Beneficially Owned |
| |||||||||
Name of Beneficial Owner
|
| |
Shares of
Common Stock Beneficially Owned |
| |
Number of
Shares of Common Stock Offered Hereby† |
| |
Before This
Offering |
| |
After This
Offering |
| ||||||||||||
| | | | — | | | | | | — | | | | | | * | | | | | | * | | | |
John Kinyon(7)
|
| | | | 317,485 | | | | | | — | | | | | | * | | | | | | * | | |
Philip Pyle(7)
|
| | | | 483,344 | | | | | | — | | | | | | * | | | | | | * | | |
All directors and executive officers as a group (16 persons)
|
| | | | 3,463,708 | | | | | | — | | | | | | 5.8% | | | | | | 5.3% | | |
Underwriters
|
| |
Number of
shares |
| |||
BMO Capital Markets Corp.
|
| |
|
| |||
Goldman Sachs & Co. LLC
|
| | | | | | |
RBC Capital Markets, LLC
|
| | | | | | |
Canaccord Genuity Corp.
|
| | | | | | |
CIBC World Markets Corp.
|
| | | | | | |
Total
|
| | | | 8,320,000 | | |
| | |
No exercise
|
| |
Full exercise
|
| ||||||
Per share
|
| | | $ | | | | | $ | | | ||
Total paid by us
|
| | | $ | | | | | $ | | | ||
Total paid by the selling stockholders
|
| | | $ | | | | | $ | | | |
| | |
Amount to Be Paid
|
| |||
SEC registration fee
|
| | | $ | 20,282 | | |
FINRA filing fee
|
| | | | 28,386 | | |
Transfer agents’ fees
|
| | | | 10,000 | | |
Printing and engraving expenses
|
| | | | 75,000 | | |
Legal fees and expenses
|
| | | | 450,000 | | |
Accounting fees and expenses
|
| | | | 105,000 | | |
Miscellaneous
|
| | | | 50,000 | | |
Total
|
| | | $ | 738,668 | | |
| | | | | | |
Incorporation by Reference
|
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|
Exhibit
Number |
| |
Description
|
| |
Form
|
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File No.
|
| |
Exhibit No.
|
| |
Filing Date
|
|
| 10.8.1# | | | | |
S-1
|
| | | |
10.10.1
|
| | | |||
| 10.9.1† | | | | |
S-8
|
| | | |
99.1
|
| | | |||
| 10.9.2† | | | | |
S-1
|
| | | |
10.12.2
|
| | | |||
| 10.9.3† | | | | |
S-1
|
| | | |
10.12.3
|
| | | |||
| 10.9.4† | | | | |
S-1
|
| | | |
10.12.4
|
| | | |||
| 10.9.5† | | | | |
S-1
|
| | | |
10.12.5
|
| | | |||
| 10.10.1† | | | | |
S-1
|
| | | |
10.13.1
|
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| 10.11.1† | | | | |
S-1
|
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10.14.1
|
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| 10.12.1† | | | | |
S-1
|
| | | |
10.15.1
|
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| 10.12.2† | | | | |
S-1
|
| | | |
10.15.2
|
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| 10.12.3† | | | | |
S-1
|
| | | |
10.15.3
|
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| 10.13.1 | | | Management Services Agreement dated October 30, 2020, between Gatos Silver, Inc. and Silver Opportunity Partners Corporation | | |
8-K
|
| | | |
10.1
|
| | | ||
| 10.14.1 | | | Shareholders Agreement dated October 30, 2020, by and among Gatos Silver, Inc. and the stockholders that are signatories thereto | | |
8-K
|
| | | |
10.2
|
| | | ||
| 10.15.1 | | | | |
S-1
|
| | | |
10.18.1
|
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| 10.16.1 | | | Registration Rights Agreement dated October 30, 2020, by and among Gatos Silver, Inc. and the stockholders that are signatories thereto | | |
8-K
|
| | | |
10.3
|
| | | ||
| 10.17.1 | | | Confirmation Agreement, dated July 12, 2021, among Minera Plata Real, S. de R.L. de C.V., Operaciones San Jose de Plata, S. de R.L. de C.V., Servicios San Jose de Plata, S. de R.L. de C.V., Gatos Silver, Inc. and Dowa Metals & Mining Co., Ltd. | | | | | | | | | | | | | |
| | | | | | |
Incorporation by Reference
|
| |||||||||
|
Exhibit
Number |
| |
Description
|
| |
Form
|
| |
File No.
|
| |
Exhibit No.
|
| |
Filing Date
|
|
| 10.18.1 | | | Revolving Credit Facility, dated July 12, 2021, between Gatos Silver, Inc. and Bank of Montreal, Chicago Branch | | | | | | | | | | | | | |
| 21.1 | | | | |
10-K
|
| | | |
21.1
|
| | | |||
| 23.1 | | | | | | | | | | | | | | | | |
| 23.2 | | | | | | | | | | | | | | | | |
| 23.3 | | | | | | | | | | | | | | | | |
| 23.4 | | | | | | | | | | | | | | | | |
| 23.5 | | | Consent of Guillermo Dante Ramírez-Rodríguez | | | | | | | | | | | | | |
| 23.6 | | | | | | | | | | | | | | | | |
| 23.7 | | | | | | | | | | | | | | | | |
| 23.8 | | | | | | | | | | | | | | | | |
| 23.9 | | | | | | | | | | | | | | | | |
| 23.10 | | | | | | | | | | | | | | | | |
| 23.11 | | | | | | | | | | | | | | | | |
| 24.1 | | | | | | | | | | | | | | | | |
| 96.1 | | | | |
S-1
|
| | | |
96.1
|
| | |
|
Signature
|
| |
Title
|
|
|
/s/ Stephen Orr
|
| |
Chief Executive Officer and Director
(principal executive officer) |
|
|
/s/ Roger Johnson
|
| |
Chief Financial Officer
(principal financial officer and principal accounting officer) |
|
|
/s/ Janice Stairs
|
| |
Chair of the Board of Directors
|
|
|
/s/ Ali Erfan
|
| |
Director
|
|
|
/s/ Igor Gonzales
|
| |
Director
|
|
|
/s/ Karl Hanneman
|
| |
Director
|
|
|
/s/ Charles Hansard
|
| |
Director
|
|
|
/s/ Igor Levental
|
| |
Director
|
|
|
/s/ David Peat
|
| |
Director
|
|
|
|
| |
Director
|
|
This ‘S-1’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/31/27 | ||||
12/29/27 | ||||
12/31/25 | ||||
7/31/24 | ||||
Filed on: | 7/12/21 | 8-K, DRS, FWP | ||
7/9/21 | ||||
7/7/21 | 8-K | |||
6/30/21 | 10-Q | |||
5/12/21 | 4 | |||
4/1/21 | 3, 8-K | |||
3/31/21 | 10-Q, 4, 4/A | |||
3/29/21 | 10-K, 8-K | |||
3/12/21 | 8-K | |||
2/16/21 | SC 13G | |||
2/8/21 | SC 13G/A | |||
2/4/21 | SC 13G | |||
12/31/20 | 10-K, 5 | |||
12/5/20 | ||||
10/30/20 | 4, 8-K, S-8 | |||
10/8/20 | S-1/A | |||
10/1/20 | DRS, DRS/A, S-1 | |||
9/21/20 | DRS/A | |||
7/1/20 | ||||
6/30/20 | ||||
4/20/20 | ||||
3/31/20 | ||||
12/31/19 | ||||
9/6/19 | ||||
9/1/19 | ||||
7/16/19 | ||||
6/19/19 | D | |||
6/3/19 | ||||
5/24/19 | ||||
12/31/18 | ||||
7/11/17 | ||||
1/1/15 | ||||
3/1/11 | ||||
2/2/11 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 7/15/21 Gatos Silver, Inc. POS EX 7/15/21 2:136K Toppan Merrill/FA |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 6/02/21 Gatos Silver, Inc. 8-K:5 5/26/21 1:22K Toppan Merrill/FA 6/02/21 Gatos Silver, Inc. 8-K:5,9 6/01/21 2:60K Toppan Merrill/FA 5/07/21 Gatos Silver, Inc. 10-Q 3/31/21 52:3.7M Toppan Merrill/FA 4/12/21 Gatos Silver, Inc. DEF 14A 5/26/21 1:1.6M Toppan Merrill/FA 4/01/21 Gatos Silver, Inc. 8-K:5,9 3/29/21 2:38K Toppan Merrill/FA 3/29/21 Gatos Silver, Inc. 10-K 12/31/20 75:9.1M Toppan Merrill/FA 3/29/21 Gatos Silver, Inc. 8-K:2,9 3/29/21 2:131K Toppan Merrill/FA 3/12/21 Gatos Silver, Inc. 8-K:1,9 3/09/21 3:125K Toppan Merrill/FA 10/30/20 Gatos Silver, Inc. 8-K:1,2,3,510/27/20 8:444K Toppan Merrill/FA 10/30/20 Gatos Silver, Inc. S-8 10/30/20 5:172K Davis Polk & … LLP 01/FA 10/21/20 Gatos Silver, Inc. 8-A12B 1:16K Toppan Merrill/FA 10/08/20 Gatos Silver, Inc. S-1/A 14:1.1M Toppan Merrill-FA 10/01/20 Gatos Silver, Inc. S-1 39:24M Toppan Merrill-FA |