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.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.