Albemarle (ALB) Accelerates Lithium Growth With $1.75B Offering

Albemarle Corporation (ALB) announced the commencement of an offering of $1.75 billion in depositary shares. Each depositary share represents a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock of the company in an underwritten registered public offering. Additionally, Albemarle anticipates granting the underwriters a 30-day option to purchase up to an additional $262.5 million of depositary shares, subject to market and other conditions.The net proceeds from the offering will be ...