The company announced last week that it was looking for C$130 million (US$100.9 million) in a private placement to bolt on further royalties and streams to its physical cobalt holdings. This came shortly after agreeing to acquire a royalty on the Dumont nickel-cobalt project in Quebec, Canada.
It has now agreed to upsize the offering to $185 million, in the process issuing another 4.8 million shares at $11.40 apiece.
In the three times the company has gone to market looking for cash - including its June IPO - it has exercised, at least in part, an overallotment option as investors piled in to its register.
Should the deal complete, Cobalt 27 will have raised $489 million in the past nine months.
The company's shares closed at $12.40 per share on Tuesday, 9% higher than the issue price.