---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-003863"
form_type: "8-K"
ticker: "MUX"
cik: "0000314203"
company_name: "McEwen Inc."
filed_at: "2025-02-11T23:59:59+00:00"
generated_at: "2026-05-26T23:35:40.847586+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# McEwen Mining issues $110M of 5.25% convertible notes due 2030; conversion price $11.25

## Summary
- Principal amount of $110M includes $15M full exercise of initial purchasers' option; net proceeds ~$105.9M.
- Notes bear 5.25% interest semi-annually; mature August 15, 2030; convertible into cash or common stock at company's election.
- Initial conversion rate of 88.9284 shares per $1,000 principal (conversion price ~$11.25), representing ~30% premium over $8.65 close.
- Capped call transactions purchased for ~$15.1M reduce potential dilution; cap price $17.30 per share.
- Proceeds used to repay ~$20M of existing credit agreement debt, pay capped call cost, and for general corporate purposes.

## SEC filing metadata
- accession: 0001140361-25-003863
- form_type: 8-K
- ticker: MUX
- cik: 0000314203
- company_name: McEwen Inc.
- filed_at: 2025-02-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314203/000114036125003863/0001140361-25-003863-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314203/000114036125003863/ef20043276_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-003863
- JSON: https://secwatch.observer/filing/0001140361-25-003863.json
- Plain text: https://secwatch.observer/filing/0001140361-25-003863.txt

## Key facts
- Debt Financings
  McEwen Inc. incurred convertible notes of $110.0 million with U.S. Bank National Association at 5.25% per year maturing August 15, 2030.
  - Instrument: convertible notes
  - Principal: $110.0 million
  - Counterparty: U.S. Bank National Association
  - Rate: 5.25% per year
  - Maturity: August 15, 2030
  - Event: incurrence
  source text: On February 11, 2025, McEwen Mining Inc. (the “Company”) issued $110.0 million in aggregate principal amount of its 5.25% convertible senior notes due 2030 (the “Notes”), which amount includes the exercise in full of the $15.0 million option granted to the Initial Purchasers (as defined below) of the Notes, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/314203/000114036125003863/0001140361-25-003863-index.htm

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