SILVERCORP ANNOUNCES PRICING OF US$130 MILLION CONVERTIBLE SENIOR NOTES OFFERING

Core Viewpoint - Silvercorp Metals Inc. has announced a private placement offering of US$130 million in convertible senior notes with a 4.75% interest rate, maturing in 2029, to fund mining projects and working capital [1][5]. Offering Details - The offering consists of US$130 million aggregate principal amount of 4.75% convertible senior notes due December 15, 2029, with an option for initial purchasers to buy an additional US$20 million [1][5]. - The notes will accrue interest payable semiannually and have an initial conversion rate of 216.0761 common shares per $1,000 principal amount, equating to a conversion price of approximately US$4.63 per share, representing a 30% premium over the last reported sale price of US$3.56 [2][3]. Conversion and Redemption Terms - Holders can convert the notes under specific circumstances before September 15, 2029, and at any time thereafter until maturity, with settlement options in cash, common shares, or a combination [3]. - The notes are not redeemable before December 20, 2027, except under certain tax law changes, and can be redeemed if the common shares' price exceeds 130% of the conversion price for a specified period [3]. Use of Proceeds - The estimated net proceeds from the offering are approximately US$124.2 million, or US$143.5 million if the additional notes option is fully exercised, intended for copper-gold mining projects outside China, exploration, development, and working capital [5]. Closing Timeline - The offering is expected to close around November 25, 2024, subject to customary closing conditions [4].