 |
Buy (3.03 out of 4)
100th percentile
|
|
|
 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, April 18, 12:37 PM
Slide #3. Albemarle Corporation — Preferred Stock Offering
| Company: |
Albemarle Corporation (NYSE:ALB) |
| Date announced: |
3/4/2024 |
| Shares Offered: |
40,000,000 |
| Date of Pricing: |
3/6/2024 |
| Price Per Share: |
$50.00 |
| Preferred Stock Offering Details: |
Albemarle Corporation (NYSE: ALB) ("Albemarle" or the "Company"), a global leader in providing essential elements for mobility, energy, connectivity, and health, today announced that, subject to market and other conditions, it has commenced an offering (the "Offering") of $1.75 billion of depositary shares ("Depositary Shares"), each representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock of the Company ("Preferred Stock"), in an underwritten registered public offering. In addition, Albemarle expects to grant the underwriters in the Offering a 30-day option to purchase up to an additional $262.5 million of Depositary Shares. -updated 3/6- Albemarle Corporation (NYSE: ALB) ("Albemarle" or the "Company"), a global leader in providing essential elements for mobility, energy, connectivity, and health, announced that it has priced its previously announced offering (the "Offering") of 40,000,000 depositary shares ("Depositary Shares"), each representing a 1/20th interest in a share of Series A Mandatory Convertible Preferred Stock of the Company ("Preferred Stock"), at a public offering price of $50 per share, in an underwritten registered public offering. In addition, Albemarle granted the underwriters in the Offering a 30-day option to purchase up to an additional 6,000,000 Depositary Shares, at the public offering price per share, less an underwriting discount. This reflects an upsizing of the previously announced offering of $1.75 billion of Depositary Shares to $2.0 billion of Depositary Shares and the previously announced option to purchase up to an additional $262.5 million to $300.0 million granted to the underwriters. The Offering is expected to close on or about March 8, 2024, subject to the satisfaction of customary closing conditions. |
Albemarle is a developer, manufacturer and marketer of chemicals. The end markets Co. serves include energy storage, petroleum refining, consumer electronics, construction, automotive, lubricants, pharmaceuticals and crop protection. Co.'s segments include: Lithium, which develops and manufactures a range of basic lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and other lithium specialties and reagents; Bromine, which includes products used in fire safety solutions and other chemicals applications; and Catalysts, which consist of clean fuels technologies, fluidized catalytic cracking catalysts and additives and performance catalyst solutions. Preferred: ALBA
 Open the ALB Page at Preferred Stock Channel »
| Name: |
Albemarle Corp. |
| Website: |
www.albemarle.com |
| Sector: |
Specialty Chemicals |
| Number of ETFs Holding ALB: |
104 (see which ones) |
| Total Market Value Held by ETFs: |
$2,543,627,793.87 |
| Total Market Capitalization: |
$13,397,000,000 |
| % of Market Cap. Held by ETFs: |
18.99% |
|
Open the ALB Page at Preferred Stock Channel (in a new window) »
|
|
Free ALB Email Alerts:
