Apex Critical Metals Corp. (NASDAQ and CSE: APXC) announced on October 23, 2026 the closing of its underwritten public offering in the United States and the commencement of trading on the Nasdaq Capital Market under the symbol "APXC." The offering raised gross proceeds of US$1.86 million through the sale of 400,000 American Depositary Shares at US$4.65 per ADS. The company intends to direct net proceeds toward working capital and its ongoing drill program at the Rift Rare Earth Project in Nebraska, a development investors in the critical metals sector may be watching closely.

Key Points

  • Apex Critical Metals Corp. (NASDAQ and CSE: APXC | OTCQX: APXCF | FWB: KL9 | Euronext Access Paris: MLAPX)
  • The company closed a US public offering of 400,000 ADSs and began trading on the Nasdaq Capital Market on October 23, 2026
  • Gross proceeds were US$1.86 million at US$4.65 per ADS; each ADS represents six common shares; underwriter holds a 45-day option to purchase up to 60,000 additional ADSs
  • Investors may watch how net proceeds are deployed toward the ongoing drill program at the Rift Rare Earth Project within the Elk Creek Carbonatite Complex

ADS Structure and Offering Terms for the Nasdaq Debut

The offering was structured as an underwritten public offering of 400,000 American Depositary Shares, priced at US$4.65 per ADS. Each ADS represents six common shares of Apex Critical Metals Corp. Maxim Group LLC acted as sole book-running manager. The disclosure notes that no securities were offered or sold to Canadian purchasers under the offering, and the transaction was made pursuant to an effective shelf registration statement on Form F-10 that became effective on August 13, 2026 with the U.S. Securities and Exchange Commission.

Underwriter Overallotment Option Adds Potential Upside to Capital Raised

In addition to the base offering, Apex has granted the underwriter a 45-day option to purchase up to an additional 60,000 ADSs at the public offering price, less underwriting discounts and commissions. Should this option be exercised in full, total capital raised would increase beyond the initial US$1.86 million gross proceeds figure. The company did not disclose the net proceeds figure after deducting underwriting discounts, commissions, and offering expenses in the announcement.

Proceeds Earmarked for Rift Rare Earth Project Drill Program in Nebraska

Apex stated it intends to use net proceeds for working capital and general corporate purposes, with a specific focus on advancing its ongoing drill program at the Rift Rare Earth Project. That project is situated within the Elk Creek Carbonatite Complex in southeastern Nebraska and is 100% controlled by the company. The Rift Rare Earth Project is central to Apex's strategy of supplying rare earth elements and niobium to meet growing critical metals demand across the United States and Canada.