Equinox Gold to redeem $172.5M in convertible notes in October

Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) has announced it will redeem all $172.5 million in outstanding 4.75% Convertible Senior Notes due October 15, 2028, according to a press release from the Canadian mining company.

The redemption is set for October 20, 2026, at a price equal to 100% of the outstanding principal amount plus accrued and unpaid interest. For each $1,000 principal amount, the redemption price will be approximately $1,000.66. Interest on the notes will cease to accrue on the redemption date.

Holders of the notes may choose to convert all or a portion of their notes prior to 5:00 p.m. New York City time on October 19, 2026. The adjusted conversion rate is 165.0732 common shares per $1,000 principal amount, reflecting applicable dividend adjustments and make-whole increases under the indenture, representing a conversion price of approximately $6.0579 per share.

If all notes are converted, Equinox Gold would issue up to 28,475,124 common shares, representing approximately 2.44% of shares currently outstanding.

The notes were originally issued on September 21, 2023, under an indenture with Computershare Trust Company, N.A., serving as trustee and paying agent. Payment will be processed through the Depository Trust Company for notes held in book-entry form.

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