Endeavour Silver (EXK) said it has agreed to a bought-deal financing arrangement to sell about 15.8 million common shares at $4.60 each, expecting to raise roughly $73 million.

The company said the agreement, led by BMO Capital Markets and a syndicate of underwriters, includes a 30-day option for underwriters to purchase up to 10% additional shares to cover over-allotments.

Endeavour said it intends to use the net proceeds from the offering, set to close around Nov. 27, for general working capital and to advance the Pitarrilla Project.

Shares will be offered in Canada, the US, and select international markets under applicable securities regulations, Endeavour said.

Shares of the company were down more than 6% in recent Wednesday premarket activity.