Lifezone Metals Closes Private Placement of US$50 Million of Unsecured Convertible Debentures
Lifezone Metals Limited (LZM)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Lifezone Metals Limited (NYSE: LZM) is pleased to announce the closing in escrow of the previously disclosed US$50 million non-brokered private placement of unsecured convertible debentures. These debentures have been issued to a consortium of marquee mining investors, led by Harry Lundin (Bromma Asset Management Inc.) and Rick Rule.The unsecured convertible debentures bear interest over a 48-month term, payable quarterly, at a rate of the Secured Overnight Financing Rate (“SOFR”) plus 4.0% per annum, subject to a SOFR floor of 3.0%. The debentures can be redeemed early by Lifezone, subject to the achievement of certain conditions, at a price of 105% plus interest otherwise payable to the maturity date. Interest is payable quarterly via a mix of cash and shares during the first two years and all in cash during the last two years.The debentures are convertible into common shares of Lifezone at the option of the holder at a price of US$8.00 per share, and
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News
- Lifezone Metals Provides an Update on Operations and Unaudited Q1 2024 Financial SummaryBusiness Wire
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- Lifezone Metals Limited (NYSE: LZM) had its price target lowered by analysts at BTIG Research from $14.00 to $11.00. They now have a "buy" rating on the stock.MarketBeat
- Lifezone Metals Announces Publication of Inaugural Annual ReportBusiness Wire
- Lifezone Metals Signs Binding Subscription Agreement for US$50 Million of Unsecured Convertible Debentures with Consortium of Marquee Mining InvestorsBusiness Wire
LZM
Analyst Actions
- 4/3/24 - BTIG
LZM
Sec Filings
- 4/29/24 - Form EFFECT
- 4/24/24 - Form POS
- 4/1/24 - Form ARS
- LZM's page on the SEC website