3 June 2026 • 2 minute read
DLA Piper advises initial purchasers in Osisko Development’s convertible senior notes offering
DLA Piper represented the initial purchasers, led by Cantor Fitzgerald & Co., in a convertible senior notes offering by Osisko Development Corp., a North American gold development company focused on revitalizing past‑producing mining camps. The company sold US$250.0 million aggregate principal amount of 4.125% convertible senior notes due 2031 (the “Notes”) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under U.S. Securities Act of 1933, as amended, and US$50.0 million of the Notes in a concurrent private placement under Section 4(a)(2) of the U.S. Securities Act of 1933, as amended. In connection with the pricing of the Notes, the company entered into privately negotiated cash-settled capped call transactions.
Osisko Development intends to use the proceeds from the transaction for its Cariboo Gold Project, a fully permitted and wholly owned development located in central British Columbia, Canada, general corporate purposes and the cost of the capped call transactions associated with the offering.
The DLA Piper deal team included Partners Stephen Alicanti, Justin Michael (both New York), and Gina Lee (Raleigh/New York), as well as Associates Egzon Sulejmani, Una Draganic (both New York), and James Spaulding (Chicago). Counsel on mining matters was provided by Partners Oliver Wright (Washington, DC) and Associates Lachlan Nichols and Alex Becker (both New York).
DLA Piper enables issuers and underwriters to execute complex securities transactions throughout the world. We offer tactical approaches to financings across equity and debt capital markets, alternative public offerings (de-SPACs, reverse mergers, and direct listings), and other transformative corporate transactions. Lawyers in our Corporate Governance practice act as outside corporate and securities counsel to a wide range of reporting companies by guiding clients through securities offerings and nuanced disclosure, governance, and compliance matters under SEC, Nasdaq, and NYSE rules and regulations. Boards of directors turn to us to navigate complex transactions, special investigations, and challenging risk oversight matters. Please visit Capital Markets and Public Company Advisory and Market Edge.
Osisko Development intends to use the proceeds from the transaction for its Cariboo Gold Project, a fully permitted and wholly owned development located in central British Columbia, Canada, general corporate purposes and the cost of the capped call transactions associated with the offering.
The DLA Piper deal team included Partners Stephen Alicanti, Justin Michael (both New York), and Gina Lee (Raleigh/New York), as well as Associates Egzon Sulejmani, Una Draganic (both New York), and James Spaulding (Chicago). Counsel on mining matters was provided by Partners Oliver Wright (Washington, DC) and Associates Lachlan Nichols and Alex Becker (both New York).
DLA Piper enables issuers and underwriters to execute complex securities transactions throughout the world. We offer tactical approaches to financings across equity and debt capital markets, alternative public offerings (de-SPACs, reverse mergers, and direct listings), and other transformative corporate transactions. Lawyers in our Corporate Governance practice act as outside corporate and securities counsel to a wide range of reporting companies by guiding clients through securities offerings and nuanced disclosure, governance, and compliance matters under SEC, Nasdaq, and NYSE rules and regulations. Boards of directors turn to us to navigate complex transactions, special investigations, and challenging risk oversight matters. Please visit Capital Markets and Public Company Advisory and Market Edge.