McEwen Mining (NYSE: MUX) (TSX: MUX) announced the pricing of $95 million in convertible senior notes due 2030 in a private placement under Rule 144A of the Securities Act. The company granted initial purchasers an option to buy an additional $15 million in notes, potentially increasing the total to $110 million. The notes carry a 5.25% interest rate and an initial conversion price of $11.25 per share, a 30% premium over the Feb. 6 closing price of $8.65. A capped call transaction could increase the effective conversion price to $17.30 per share. Proceeds will be used for a capped call overlay, debt repayment, and general corporate purposes. The offering is expected to close Feb. 11, 2025, pending customary conditions.
To view the full press release, visit https://ibn.fm/3lKKZ
About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 47.7% of McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, chair and chief owner, has a personal investment in the company of $220 million and takes an annual salary of $1. To learn more about the company, visit www.McEwenMining.com.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX
About Rocks & Stocks
Rocks & Stocks (“R&S”) is a specialized communications platform delivering deep insights into the mining industry. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, R&S is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, R&S brings its clients unparalleled recognition and brand awareness.
R&S is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from Rocks & Stocks, text “Rocks” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://RocksAndStocks.news
Please see full terms of use and disclaimers on the Rocks & Stocks website applicable to all content provided by R&S, wherever published or re-published: https://RocksAndStocks.news/Disclaimer
Rocks & Stocks
Austin, Texas
RocksAndStocks.news
512.354.7000 Office
[email protected]
Rocks & Stocks is powered by IBN
