Stillwater Mining Co. (NYSE: SWC) has seen a large run this year due to it being a miner in platinum and palladium. It has also gotten back up close to multi-year highs before a recent small pullback. Shares are going to be soft this Monday as it has announced a secondary offering of 37 million shares of common stock. The company receives nothing from the offering as all shares are being sold by majority holder Norimet Limited.
Concurrently with the secondary offering, the selling holder expects to sell an additional 7.84 million shares to UBS Securities and affiliates in connection with an offering by UBS AG of its Mandatorily Exchangeable Notes due 2012.
An overallotment option has been granted for up to 3,813,222 additional shares of common stock; and an additional option was granted for up to 1.16 million shares tied to the exchangeable notes offering.
Credit Suisse Securities, J.P. Morgan Securities, UBS Securities, and VTB Capital PLC are listed as joint book-runners in the public offering of the common stock.
The market cap based on a $20.01 close on Friday is roughly $1.96 billion, and the 52-week trading range is $8.37 to $21.73.
JON C. OGG
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
