Crescat Portfolio Management and affiliated funds have disclosed a significant stake in Silver Bow Mining Corp., reporting beneficial ownership of 2,578,526 common shares, equal to 8.7% of the company’s 29,518,500 shares outstanding as of May 1, 2026.
The reporting group acquired 2,564,769 shares for a total purchase price of about $11.36 million and believes the stock is undervalued and an attractive investment. They may engage with Silver Bow’s management and board on operational, governance and strategic matters and may increase or decrease their position over time, depending on market conditions and the issuer’s performance.
Silver Bow Mining Corp. Chief Executive Officer Charles Travis Naugle reported an open-market purchase of 5,000 Common Shares of SBMT at a weighted average price of $9.8818 per share. After this trade, he directly owns 105,000 common shares and indirectly holds 43,799 shares through a 401(k) plan.
Silver Bow Mining Corp. entered into an underwriting agreement for its initial public offering of 5,200,000 common shares with Cantor Fitzgerald & Co. as lead book-running manager. The agreement includes a 30-day option for underwriters to purchase up to an additional 780,000 common shares to cover over-allotments at the public offering price, less underwriting discounts and commissions.
The company agreed to pay the underwriters a commission equal to 7% of the aggregate gross proceeds and to reimburse customary fees and expenses up to US$200,000. On May 1, 2026, Silver Bow Mining consummated the offering and issued 5,200,000 common shares, generating aggregate net proceeds of approximately $54.6 million after underwriting discounts, commissions, and other offering expenses.
Silver Bow Mining Corp.’s Chief Financial Officer, Black Wade Newton, bought additional stock in the company. On April 30, 2026, he made an open-market purchase of 500 Common Shares at $10.75 per share. Following this trade, he directly owns 25,000 Common Shares, and no derivative positions are reported in this filing.
SILVER BOW MINING CORP. executive Douglas Avery, Vice President of Regulatory and External Affairs, has filed an initial statement of beneficial ownership on Form 3. This filing establishes his status as an insider of the company but does not report any share transactions or option exercises.
SILVER BOW MINING CORP. vice president of exploration Phillip Anson Nickerson reported his initial holdings as an insider. He beneficially owns 22,000 Common Shares directly and holds stock options to acquire 60,000 Common Shares at an exercise price of $3.10 per share, expiring on April 14, 2030. The footnote states these stock options vested immediately on the grant date.
SILVER BOW MINING CORP. director Steven Douglas Durbin Jr reported his initial ownership of the company’s securities. He holds 388,611 Common Shares directly, including 33,020 Restricted Stock Units that vest upon specific events such as a change in control or his departure from the board. He is also associated with 845,353 Common Shares held indirectly through Quail Bend Mineral Partners LLC, where he exercises voting and dispositive power subject to his pecuniary interest. In addition, he holds stock options for 175,000 Common Shares at an exercise price of $3.10 per share, expiring on March 3, 2030, which vested immediately on the grant date.