Calumet announces $100M 9.75% notes offering, ATM equity up to $65M; net loss $181M in 9M 2024

Calumet, Inc. /DE

Offers $100M in 9.75% senior notes due 2028; proceeds to redeem 11% 2026 notes by April 15, 2025.
Enters ATM equity distribution agreement for up to $65M common stock sales via BMO Capital Markets.
Nine-month 2024 net loss $181.3M vs net income $96.1M in 2023; operating loss $14.6M vs income $281.1M.
Long-term debt $1.66B; stockholders' equity -$672.2M as of Sep 30, 2024.
New notes are a mirror issue to existing $325M 9.75% notes due 2028 with identical terms.

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