---
schema_version: "secwatch.filing_event.v1"
accession: "0000915913-24-000078"
form_type: "8-K"
ticker: "ALB"
cik: "0000915913"
company_name: "ALBEMARLE CORP"
filed_at: "2024-03-08T23:59:59+00:00"
generated_at: "2026-06-05T01:02:01.537328+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Albemarle upsizes and prices $2.0B depositary shares offering at $50/share; net $1.94B for lithium capex

## Summary
- 40M depositary shares priced at $50 each; underwriters' option for 6M additional exercised; net proceeds ~$1.94B.
- Proceeds for lithium expansion in Australia and China and commercial paper repayment.
- 7.25% cumulative dividend on $1,000 liquidation pref ($50/depositary); quarterly starting June 1, 2024.
- Mandatory conversion Mar 1, 2027 into 0.3809-0.4570 common shares per depositary share.

## SEC filing metadata
- accession: 0000915913-24-000078
- form_type: 8-K
- ticker: ALB
- cik: 0000915913
- company_name: ALBEMARLE CORP
- filed_at: 2024-03-08T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/915913/000091591324000078/0000915913-24-000078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/915913/000091591324000078/alb-20240305.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000915913-24-000078
- JSON: https://secwatch.observer/filing/0000915913-24-000078.json
- Plain text: https://secwatch.observer/filing/0000915913-24-000078.txt

## Key facts
- Governance Changes
  ALBEMARLE CORP: Filed Articles of Amendment to establish preferences, limitations and relative rights of Mandatory Convertible Preferred Stock (effective 2024-03-08).
  - Change: charter amendment
  - Effective: 2024-03-08
  source text: On March 7, 2024, the Company filed the Articles of Amendment with the SCC to establish the preferences, limitations and relative rights of the Mandatory Convertible Preferred Stock. The Articles of Amendment became effective upon the issuance of a Certificate of Amendment by the SCC to the Company on March 8, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/915913/000091591324000078/0000915913-24-000078-index.htm
- Material Agreements
  ALBEMARLE CORP entered into Underwriting Agreement with J.P. Morgan Securities LLC, as representative of the several underwriters (effective 2024-03-05).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: J.P. Morgan Securities LLC, as representative of the several underwriters
  - Effective: 2024-03-05
  source text: On March 5, 2024, Albemarle Corporation (the “Company”) entered into an underwriting agreement (the “ Underwriting Agreement ”) with J.P. Morgan Securities LLC, as representative of the several underwriters named in Schedule 1 thereto
  evidence_url: https://www.sec.gov/Archives/edgar/data/915913/000091591324000078/0000915913-24-000078-index.htm
- Material Agreements
  ALBEMARLE CORP entered into Articles of Amendment.
  - Action: entry
  source text: the Company filed articles of amendment (the “ Articles of Amendment ”) to the Company’s Amended and Restated Articles of Incorporation with the State Corporation Commission of the Commonwealth of Virginia
  evidence_url: https://www.sec.gov/Archives/edgar/data/915913/000091591324000078/0000915913-24-000078-index.htm
- Material Agreements
  ALBEMARLE CORP entered into Deposit Agreement with Equiniti Trust Company, LLC (effective 2024-03-08).
  - Action: entry
  - Counterparty: Equiniti Trust Company, LLC
  - Effective: 2024-03-08
  source text: the Company entered into a deposit agreement (the “ Deposit Agreement ”), dated March 8, 2024, by and among the Company, Equiniti Trust Company, LLC, as depositary
  evidence_url: https://www.sec.gov/Archives/edgar/data/915913/000091591324000078/0000915913-24-000078-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.