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Almonty Industries to Raise CA$700 Million in Convertible Notes Offering

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Almonty Industries (ASX:AII) said it plans to raise CA$700 million through a private offering of convertible senior notes due 2031, with initial purchasers granted an option to buy an additional CA$100 million of the securities, according to a Friday filing with the Australian bourse.

The unsecured notes pay semi-annual interest, mature on July 1, 2031, and are convertible into common shares under certain conditions, per the filing.

The company may redeem the notes after July 1, 2029, if its share price remains above 130% of the conversion price for a specified period, the filing said.

The net proceeds will be used for capped call transactions to mitigate dilution risk, refinancing existing debt, and general corporate purposes, including working capital needs and potential acquisitions, the filing added.

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