First Majestic Silver Corp. (AG), a mining company, on Thursday priced its previously announced offering of unsecured convertible senior notes due 2031 for $300 million, with an over-allotment option that could bring the total to $350 million will be issued at par value.
Closing of the offering is expected on or about December 8.
The company said that the proceeds will be used to repurchase a portion of its outstanding 0.375% convertible senior notes due 2027 through privately negotiated transactions and for general corporate purposes, including strategic opportunities.
The notes will carry semi-annual cash interest of 0.125% and an initial conversion rate of 44.7227 common shares per $1,000 principal amount, representing a conversion price of about $22.36.
The rate reflects a 42.5% premium to the prior day's NYSE closing price.
First Majestic Silver closed the regular trading session on December 04, 2025, at $15.69, down $0.22 or 1.38%. Later, in overnight trading, the share price further declined to $15.60, down $0.09 or 0.57%, as of 12.06 AM EST.
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