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CLASS B COMMON STOCK OF ECRC
 3 Months Ended
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