Successful signing of equity purchase agreement relating to the sale of $40 million in aggregate gross proceeds of ordinary shares to certain investors

London, june 18, 2021 (globe newswire) -- ferroglobe plc (nasdaq: gsm) (the “company”) is pleased to announce that on june 18, 2021 it entered into an equity purchase agreement with rubric capital management lp (“rubric”), on behalf of certain managed or sub-managed funds and accounts and grupo villar mir, s.a.u. (“gvm”) relating to the sale of 7,803,791 ordinary shares to rubric and 1,114,827 ordinary shares to gvm (collectively, the “shares”) at an issue price of $4.485 per share, which would result in aggregate gross proceeds of $40 million. the issue price per share represents a 15% discount to the last reported closing price, $5.29, of our ordinary shares on the nasdaq capital market on june 17, 2021. the shares are expected to be issued on the transaction effective date for the transactions set forth under the lock-up agreement dated march 27, 2021 between the company and certain financial stakeholders (the “lock-up agreement”). upon completion of this offering, the company intends to use the net proceeds from this offering for general corporate purposes. with the proceeds from this offering, the company will have satisfied its obligation to raise $40 million through the issuance of new equity to complete the transactions contemplated by the lock-up agreement.
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