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Caledonia Mining Prices Upsized $125 Million Convertible Notes Offering; Shares Down Pre-Bell

BY MT Newswires | CORPORATE | 01/15/26 04:41 AM EST

04:41 AM EST, 01/15/2026 (MT Newswires) -- Caledonia Mining (CMCL) said late Wednesday it priced a $125 million private placement of 5.875% convertible senior unsecured notes due Jan. 15, 2033, upsized from a previously planned $100 million.

Initial purchasers have an option to purchase up to an additional $25 million of the notes.

The company expects the offering to close Tuesday and plans to use the estimated net proceeds of about $120.2 million to fund certain capped-call transactions, among other things, it said.

Caledonia Mining (CMCL) shares were down 6.8% in recent premarket activity Thursday.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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