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CLASS B COMMON STOCK OF ECRC | 3 Months Ended
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Sep. 30, 2024
Class B Common Stock Of Ecrc |
CLASS B COMMON STOCK OF ECRC |
| 6. | CLASS B COMMON STOCK OF ECRC
The shares of Class B common stock of ECRC, an indirect, majority-owned subsidiary of NioCorp formerly known as GX Acquisition Corp. II (“GXII”), include rights under which the holders may exchange such shares into Common Shares, and certain of such shares are subject to certain vesting conditions (the “Earnout Shares”). These Earnout Shares were valued utilizing a Monte Carlo Simulation pricing model with the following primary inputs:
Key Valuation Input |  | September 30, 2024 |  |  | June 30, 2024 |
Closing Common Share price |  |  | $2.18 |  |  |  | $1.73 |
Term (expiry) |  |  | March 17, 2033 |  |  |  | March 17, 2033 |
Implied volatility of Public Warrants |  |  | 60% |  |  |  | 65.0% |
Risk-free rate |  |  | 3.74% |  |  |  | 4.35% |
The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the three-month period ended September 30, 2024:
|  | For the Three Months Ended September 30, 2024 |
Fair value at June 30, 2024 |  | $ | 3,817 |
Change in fair value |  |  | 816 |
Fair value at September 30, 2024 |  | $ | 4,633 |

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