Hycroft Mining reduces debt by $12.2M via note repurchase at 42% discount

HYCROFT MINING HOLDING CORP

Reduced $11.14M subordinated notes for $5.57M cash plus 500,000 shares of common stock.
Voluntary $1.11M principal prepayment on first lien credit facility.
Combined $12.25M debt reduction at ~42% discount to face value.
Cash position remains >$140M; exploration on track, assay results due before year-end.

item 1.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HYCROFT MINING HOLDING CORP entered into Note Purchase and Sale Agreement valued at $11,139,707 (effective 2022-11-28).

Action: entry
Agreement: notes offering
Value: $11,139,707
Effective: 2022-11-28

Exact text from the filing

Hycroft Mining Holding Corporation (the “Company”) entered into a Note Purchase and Sale Agreement dated November 28, 2022, pursuant to which it reduced the outstanding principal amount of 10% senior secured subordinated notes (“Subordinated Notes”) by $11,139,707 in exchange for (i) payment of $5,569,854 and (ii) issuance of 500,000 shares of the Company’s Class A common stock, par value $0.0001 per share.

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281 material agreements filed in the last 30 days. Browse all material agreements →

HYCROFT MINING HOLDING CORP filing history →

Source: SEC EDGAR

accession 0001718405-22-000108

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