India, June 5 -- Almonty Industries Inc. (ALM) shares fell 18.14%, losing $3.75 to $16.93 on Friday, after the company announced the pricing of an oversubscribed private offering of $700 million aggregate principal amount of 2.25% convertible senior notes due 2031.
The stock is currently trading at $16.93, compared with its previous close of $20.68 on the Nasdaq. During the session, it opened at $17.77 and traded between $16.88 and $18.00. Trading volume reached 6.52 million shares, above its average volume of 5.38 million shares.
The company also granted the initial purchasers an option to acquire up to an additional $100 million of notes. Investors often react negatively to large convertible debt offerings because of the potential for f...