McEwen Mining Completes Upsized $110 Million Offering of Convertible Senior Unsecured Notes

Core Viewpoint - McEwen Mining Inc. has successfully closed an offering of $110 million in 5.25$110 million in convertible senior notes, including an upsized offering of $95 million and a$15 million option exercised by initial purchasers [1]. - The initial conversion rate is set at 88.9284 shares per $1,000 principal amount, translating to a conversion price of approximately$11.25 per share, which is a 30% premium over the stock price on February 6, 2025 [2][7]. - The capped call could increase the effective conversion price at maturity to $17.30 per share, representing a 100$20 million of the proceeds to reduce existing senior secured debt from $40 million to$20 million [3][7]. - The remaining net proceeds, estimated at $90.8 million after costs, will be allocated for general corporate purposes [7]. Group 3: Growth Strategy - The company aims to increase gold production at the Fox Complex from 30,000 ounces in 2024 to 150,000 ounces by 2030, supported by exploration success [3].