Sigma Lithium Corp (SGML) Form 6-K — Nov 2, 2026
Sigma Lithium announced a US$100 million, five-year inaugural senior unsecured convertible bond offering due 2031, with a fixed 7.00% annual coupon replacing floating-rate secured debt at roughly 11.45% (SOFR + 6.95%). Net proceeds will fully repay the company's Senior Secured Debt with Synergy Capital, extending the maturity from June 2027 to 2031, cutting pro forma short-term debt by roughly 80% from US$125 million, and releasing corporate security. Conversion is set at a 25% premium to the reference price with no conversion in the first 12 months, and holders can put the bonds at par at the end of year 3 (~November 2029).
Key figures
- Debt Amount
- 100000000
- Interest Rate
- 7
- Maturity Date
- approximately November 2031
- Investor put
- 100% of principal at end of year 3 (~November 2029)
- Self funded since
- July 2023
- Conversion premium
- 25% to reference price
- Prior floating rate
- SOFR 4.5% + 6.95% p.a. (~11.45%)
- Debt repaid since 2q24
- more than US$90 million
- Short term debt reduction
- approximately 80%, from US$125 million pro forma
- Total debt reduction two years
- approximately 40% to US$125 million
AI analysis
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