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Osisko Development Prices $275 Million Convertible Notes Offering; Shares Down Pre-Bell

BY MT Newswires | CORPORATE | 06:45 AM EDT

06:45 AM EDT, 05/21/2026 (MT Newswires) -- Osisko Development (OSDVF) priced a $275 million offering and a concurrent private placement of 4.125% convertible senior unsecured notes due June 15, 2031, the company said Thursday.

Qualified institutional buyers have agreed to purchase $225 million of the notes, while company affiliate Double Zero Capital will buy $50 million.

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

The company expects the offering and the private placement to close May 26 and May 29, respectively, and plans to use the net proceeds to develop the Cariboo gold project in British Columbia, among other things, it said.

Osisko Development (OSDVF) shares were down 12% in premarket activity.

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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