Loan & DebtJun 12, 2026, 05:26 PM
Almonty Closes $800M Convertible Senior Notes Offering
AI Summary
Almonty Industries Inc. announced the successful closing of its oversubscribed offering of US$800 million aggregate principal amount of 2.25% Convertible Senior Notes due 2031, including the full exercise of the initial purchasers' option. The offering generated approximately US$772.7 million in net proceeds, with US$83 million allocated to capped call transactions. The remaining funds will be used for working capital and general corporate purposes, strengthening the balance sheet to support the development of the Sangdong Mine and its role as a non-China tungsten supplier.
Key Highlights
- Issued $800 million aggregate principal amount of 2.25% Convertible Senior Notes due 2031.
- Includes full exercise of $100 million over-allotment option by initial purchasers.
- Net proceeds from the offering totaled approximately $772.7 million.
- Used approximately $83 million of net proceeds for capped call transactions.
- Initial conversion price is $27.40 per common share, a 32.5% premium over June 4, 2026 price.
- Capped call transactions cap price is $41.36 per share, a 100% premium over June 4, 2026 price.
- Remaining net proceeds for working capital and general corporate purposes, including acquisitions.
Price Impact
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