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Mattr Prices $129.3 Million Offering of Debt Subscription Receipts
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Mattr Prices $129.3 Million Offering of Debt Subscription Receipts
Dec 6, 2024 6:22 AM

09:05 AM EST, 12/06/2024 (MT Newswires) -- Mattr ( MTTRF ) on Friday priced an offering of 125,000 debt subscription receipts at $1,034 each, including accrued but unpaid interest, for $129.3 million in proceeds.

The company plans to use the proceeds to pay a portion of the purchase price for its previously announced indirect acquisition of AmerCable, which is expected to close in the first quarter of 2025.

Each subscription receipt will entitle the holder to receive a newly authenticated 7.25% senior unsecured note of the company due April 2, 2031, in a principal amount of $1,000.

"This offering provides continued capital structure stability and converts a portion of the anticipated AmerCable funding to fixed rates once closing conditions have been met," CFO Tom Holloway said. "We are deeply appreciative of the support and confidence of all investors and are excited by the additional balance sheet optionality created to continue our long-term value creation strategies."

Mattr's ( MTTRF ) share price rose 1% yesterday to $13.85 on the TSX.

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