secwatch.observer — SEC 8-K summary
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Issuer:     ALBEMARLE CORP (ALB)
CIK:        0000915913
Form:       8-K
Filed at:   2024-03-08T23:59:59+00:00
Accession:  0000915913-24-000078
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/915913/000091591324000078/0000915913-24-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/915913/000091591324000078/alb-20240305.htm
  HTML page:      https://secwatch.observer/filing/0000915913-24-000078

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer