Successful signing of Equity Purchase Agreement relating to the sale of $40 million in aggregate gross proceeds of ordinary s...
June 18 2021 - 4:00AM
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.
A shelf registration statement relating to the
Shares has been filed with the Securities and Exchange Commission
and has been declared effective.
About Ferroglobe
Ferroglobe is one of the world’s leading
suppliers of silicon metal, silicon-based and manganese-based
specialty alloys and ferroalloys, serving a customer base across
the globe in dynamic and fast-growing end markets, such as solar,
automotive, consumer products, construction and energy. For more
information, visit http://investor.ferroglobe.com.
Forward-Looking
Statements
This release contains “forward-looking
statements” within the meaning of U.S. securities laws.
Forward-looking statements are not historical facts but are based
on certain assumptions of management and describe Ferroglobe’s
future plans, strategies and expectations. Forward-looking
statements often use forward-looking terminology, including words
such as “anticipate”, “believe”, “could”, “estimate”, “expect”,
“forecast”, “guidance”, “intends”, “likely”, “may”, “plan”,
“potential”, “predicts”, “seek”, “will” and words of similar
meaning or the negative thereof.
Forward-looking statements contained in this
press release are based on information currently available to
Ferroglobe and assumptions that management believe to be reasonable
but are inherently uncertain. As a result, Ferroglobe’s actual
results, performance or achievements may differ materially from
those expressed or implied by these forward-looking statements,
which are not guarantees of future performance and involve known
and unknown risks, uncertainties and other factors that are, in
some cases, beyond Ferroglobe’s control.
All information in this press release is as of
the date of its release. Ferroglobe does not undertake any
obligation to update publicly any of the forward-looking statements
contained herein to reflect new information, events or
circumstances arising after the date of this press release. You
should not place undue reliance on any forward-looking statements,
which are made only as of the date of this press release.
No offer
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any securities. Any
offers, solicitations or offers to buy, or any sales of securities
will be made in accordance with the registration requirements of
the Securities Act of 1933, as amended (“Securities Act”).
INVESTOR CONTACT:
Gaurav Mehta Executive Vice President - Investor Relations
investor.relations@ferroglobe.com
MEDIA CONTACT:
Cristina Feliu RoigExecutive Director – Communications &
Public Affairs corporate.comms@ferroglobe.comSource: Ferroglobe
PLC
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