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Equinox Gold Shares Fall 18% After Convertible Senior Notes Bought Deal Offering

By Ben Glickman


Shares of Equinox Gold sank after the company said it would sell $150 million of 4.75% convertible senior notes.

The stock was down 18% to $4.30 in after-hours trading, after rising 2.1% at Monday's close. Shares are up 60% this year.

The Vancouver, B.C.-based company said BMO Capital Markets would be purchasing the notes, which are due in 2028. The purchasers have an option to buy an additional $22.5 million aggregate principal amount of notes.

Equinox said it would use the proceeds to pay down its debt and for general corporate purposes.

The notes have an initial conversion price of about $6.30 a share, representing a premium of 20% on Monday's closing price.

The offering is expected to close Sept. 21.


Write to Ben Glickman at


(END) Dow Jones Newswires

September 18, 2023 18:38 ET (22:38 GMT)

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