04:02 AM EDT, 06/06/2024 (MT Newswires) -- Fortuna Silver Mines ( FSM ) said late Wednesday it has priced a $150 million offering of 3.75% convertible senior notes due 2029.

The company granted the initial purchasers a 15-day option to buy up to $22.5 million of additional notes.

The initial conversion rate for the notes will be 151.722 shares per $1,000 worth of notes, equivalent to a conversion price of about $6.59 per share.

The offering is expected to close June 10.

The company plans to use net proceeds to repay indebtedness, fund working capital requirements and for general corporate purposes.

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