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AI brief of an SEC Form 8-K · Coeur Mining (CDE)

Coeur Mining to acquire New Gold in $7 billion all-stock deal

Mixed Impact 5 of 5 m&a Written later

On November 2, 2025, Coeur Mining agreed to acquire New Gold through a plan of arrangement, with New Gold shareholders receiving 0.4959 Coeur shares for each New Gold share. The company said the deal implies $8.51 per New Gold share, a 16% premium to New Gold's October 31, 2025 NYSE American close, and a total equity value of about $7 billion. Coeur holders would own about 62% of the combined company and New Gold holders about 38%, so the deal would significantly change Coeur's share count and ownership, and it is subject to shareholder, court and regulatory approvals.

Key points

  • Exchange ratio of 0.4959 Coeur common shares per New Gold common share, implying $8.51 per share based on Coeur's October 31, 2025 NYSE closing price
  • Total equity value of about $7 billion for New Gold; pro forma combined equity market capitalization of about $20 billion
  • Coeur stockholders to own about 62% and New Gold shareholders about 38% of the combined company; two New Gold directors, including CEO Patrick Godin, to join Coeur's board
  • Expected to close in the first half of 2026; outside date May 15, 2026, extendable to August 15, 2026; termination fees of $414 million (Coeur) and $255 million (New Gold) in certain circumstances

The filing

CompanyCoeur Mining (CDE)
Form8-K, current report
Filed with the SECNov 3, 2025, 5:30 PM ET
Accession number0001140361-25-040231

Items reported: 1.01 Material Definitive Agreement3.02 Unregistered Equity Sale8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:11 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2025.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.