$ALM

3 stories mentioning ALMUpdated 16d ago

Every FINWIRES story that references ALM, newest first.

Almonty Closes Oversubscribed $700 Million Convertible Notes Offering

Almonty Industries (ALM) said Tuesday it closed its significantly oversubscribed $700 million offering of 2.25% convertible senior notes due 2031, generating net proceeds of about $772.7 million.The closing included the full exercise of a $100 million over-allotment option by initial purchasers.The notes were sold in a private placement to qualified institutional buyers.Price: $14.92, Change: $-1.53, Percent Change: -9.30%

$ALM

Wire20d ago

Update: Almonty Shares Fall After Pricing $700 Million Convertible Notes Offering

(Updates with the latest stock movement in the headline and the first paragraph.)Almonty Industries (ALMS) shares were down more than 19% in Friday trading after the company said it priced a private offering of $700 million worth of 2.25% convertible senior notes due 2031.The notes will have an initial conversion rate of 36.495 common shares per $1,000 in principal amount of notes, representing an initial conversion price of about $27.40 per share.The company granted initial purchasers a 13-day option to purchase up to $100 million worth of notes.The issuance and sale of the notes are scheduled to settle Monday.Net proceeds from the offering are estimated to be about $675.9 million, or about $772.7 million if the initial purchasers fully exercised their overallotment option.The company said it intends to use about $83 million of the proceeds to fund the costs of entering into capped call transactions, while about $50 million will be used to refinance existing debt, with the remainder to be used for working capital and general corporate purposes.Price: $16.70, Change: $-3.98, Percent Change: -19.25%

$ALM

Wire22d ago

Almonty Industries Seen Gaining From Strong Tungsten Pricing, Oppenheimer Says

Almonty Industries (ALM) is positioned to benefit from a tight tungsten market supported by strong semiconductor and defense demand, Oppenheimer said Wednesday in a report.Prices are expected to remain elevated through 2030 given limited new supply, China's status as a net importer, and recycled material unlikely to ease tight conditions in the near term, the report said.Almonty's Sangdong project in South Korea is expected to begin generating data in June and move to Phase 1 production in July, with Phase 2 planning underway, Oppenheimer said. Longer-term growth may come from expansion at the Panasqueira mine in Portugal and development of a downstream oxide facility at Sangdong, the report said.Upcoming catalysts include production updates from Sangdong, potential inclusion in equity indexes later this month, and progress on expansion projects and capital allocation as free cash flow improves, the report said.Oppenheimer raised its price target on Almonty's stock to $25 from $22 and maintained its outperform rating.Price: $20.54, Change: $-0.11, Percent Change: -0.56%

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