08:18 AM EDT, 03/19/2024 (MT Newswires) -- Mattr Corp. ( MTTRF ) , a global materials technology company, on Tuesday priced its upsized offering of $175 million aggregate principal amount of 7.25% senior unsecured notes due 2031.

The company said the offering's previous size was $150 million.

Mattr ( MTTRF ) said the notes will be issued at a price of $1,000 per $1,000 principal amount of notes.

"This offering provides capital structure stability and flexibility for the company while lowering our cost of capital and is an important step as we continue to execute our long-term value creation strategies," President and CEO Mike Reeves said.

The company plans to use the proceeds to redeem its outstanding 9.00% senior unsecured notes due 2026, to pay fees and expenses related to the offering, and for general corporate purposes.

Mattr ( MTTRF ) said it will issue a conditional notice to redeem $150 million of its 2026 notes at a redemption price of 104.50%.