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Almonty Industries Completes Oversubscribed $700 Million Convertible Notes Offering; Shares Fall 5%

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Almonty Industries (ASX:AII) closed an oversubscribed private offering of $700 million in 2.25% convertible senior notes due 2031, with an additional $100 million issued via full exercise of the purchasers' option, according to a Wednesday filing with the Australian bourse.

Net proceeds from the offering were around $772.7 million after fees and expenses, per the filing.

The funds will be used to strengthen the balance sheet and improve financial flexibility, the filing added.

The company's shares fell around 5% in recent Wednesday trade.

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