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26 June 2014

5N Plus closes over-allotment option for additional $6m of debentures

Specialty metal and chemical products firm 5N Plus Inc of Montreal, Qu├ębec, Canada says that, in connection with its recently closed offering of $60m of convertible unsecured subordinated debentures (announced on 28 May), the underwriters have purchased an additional $6m of debentures at a price of $1000 each upon the exercise of their 30-day over-allotment option. For the short term, 5N Plus will use the offering’s net proceeds to reduce indebtedness under its senior revolving credit facility.

The debentures bear interest at a rate of 5.75% per annum, payable semi-annually at the end of June and December, from 31 December 2014. The debentures are convertible at the holder's option into 5N Plus common shares at $6.75 per share (representing a conversion rate of 148.1481 shares per $1000 principal amount of debentures). They will mature on 30 June 2019 and may be redeemed by 5N Plus, in certain circumstances, after 30 June 2017.

5N Plus provides specialty purified metals such as bismuth, gallium, germanium, indium, antimony, cadmium, selenium and tellurium, and also produces related semiconducting compounds such as cadmium telluride (CdTe), cadmium sulphide (CdS) and indium antimonide (InSb) as precursors for the growth of crystals for solar, LED and eco-friendly materials applications. The firm also has fully integrated closed-loop recycling facilities.

See related items:

5N Plus announces $60m bought-deal offering of convertible unsecured subordinated debentures

5N Plus announces $40m in equity financing

Tags: 5N Plus

Visit: www.5nplus.com

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