A bit disappointed that only $5M of common stock has been sold. Another $35M to go. I thought the recent downward pressure on the stock was because a bunch of common stock was being issued/sold. Don't like the word "at least" in the statement.
The consummation of the Exchange Offer remains subject to satisfaction or waiver of certain conditions (the “Exchange Offer Conditions”). The Exchange Offer Conditions include (i) the receipt of at least $40 million in gross proceeds from the issuance and sale of new ordinary shares of the Parent to investors (the “Equity Placement”), approximately $5 million of which has already been received, and (ii) the receipt of at least $20 million in gross proceeds from the Super Senior Notes Offer or from the backstop arrangement thereof (together, the “Transaction Effective Date Condition”). The Transaction Effective Date Condition may not be waived.
R
Nice to see it bounce back. Only recovered from irrational sell-off. Silicon metal and silicon alloy prices are at record recent year highs and demand not at all waning. and GSM bringing on previously idled furnaces to sell into high spot prices (more impact in Q3 than Q2).
J
Is there anyway the drop is because of the deal to sell shares to Rubric and GVM at a 15% discount? If they’re now executing their trades at 15% below 5.29 (the price at the deal) , wouldn’t the current stock price reflect that? I mean, essentially GSM just sold 7.8 million shares at $4.50 ($5.29- (0.15x5.29) = 4.50)??
J
Oil is already doing its part to reduce inflation pressures. Hopefully, raw materials of the mining type will NOT follow. Haven't seen anyone on this board yet admit to having an active subscription with asian metal website to comment on daily prices. FerroGlobe shares held up very well today despite the 725pt drop. Seems GSM is a keeper alright......that is until mgmnt decides it's time to monetize the $400M capital raise that the board approved.
R
Silicon metal prices hitting another new high. The only reason GSM is not already above $10 is because so few people paying attention and so hard for the average investors to track silicon metal prices (even I only get it piecemeal). And no analyst coverage. As well, GSM does sell products on both 1-year contracts and spot with 3 month lag so their realized prices in Q2 will be far below spot prices (though up quite a bit from Q1 and Q4 of last year) and many investors do not understand the rue earnings power in 2022 if prices hold here (i.e., record high earnings is coming). The demand for everything that uses silicon metal is going straight up. About 40% of silicon metal is used as an alloy for aluminum die-case parts used in vehicles (vehicle production up). About 45% is used in construction and consumer products (duh, demand better than ever). And 15% for solar PV - Hello, demand and outlook strong. And GSM's other products is silicon alloys that solely depends on steel production in outside of China (Hello, steel output in N.A. and Europe very strong as China steel production has weakened a bit due to higher than rest of world met coal prices due to their refusal to buy Australian met coal, plus very high shipping costs for steel).
C
Has @HRK exited stage right, and left us holding the BAG???? He/She is MIA !
J
Someone must really want to get out of their position
E
How good can GSM's longer term outlook be if they need to pay 9% interest in a ZERO interest rate environment? Seems something wrong . Any thoughts?
CEO LUNDMARK'S BLOG ON HOW HE WAS INVOLVED IN THE FIRST GSM PHONE CALL 30 YEARS AGO. Today we are celebrating the 30th anniversary of the first official #GSM call. Our @PekkaLundmark blogs about the phone call that transformed telecommunications across the world and made Nokia a global brand. https://nokia.ly/3Agv9p8 #innovation https://twitter.com/nokia/status/1410479566142021632
R
Granted, it is hard to find prices for silicon metal. I indirectly do have access for some of the data. But you can find glimpses from the USGS website and their Mineral Industry Surveys (https://prd-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/atoms/files/mis-202101-simet.pdf) and Argus Media, which is a paid subscription and you cannot access prices from their website, but often if you search for silicon and Argus Media you will find news postings where they discuss prices.
Bullish
R
There is this company that is designing a battery with much higher silicon content. The key part starts at 10 minute mark to 12 minute mark. CEO says they are starting commercial production for consumer electronics, but said they are now going through process for an EV (and utility scale storage) battery. Very exciting prospects for silicon metal longer-term.
Now that $40 mm equity deal is done - And done cleanly (no right issue), investors can now totally focus on their strong outlook. Silicon metal prices in U.S. and Europe now above the 2018 peak. GSM's stock price still a fraction of where it was in 2018. Too many paying attention to last quarter's earnings and not fully appreciate that GSM's revenues lag prices due to contracts and spot timing. Also note that steel production in N.A. and Europe are much stronger than back in 2018. GSM's steel alloy business must be printing $$$ now. Crazy cheap stock because not enough people are paying attention and no analyst coverage. And the long-term future for electric vehicle battery efficiency lies in increasing the content of silicon metal. GSM now ready to take-off!
Bullish
C
Big question! Why are some of the bondholders holding out??? We know they want some equity. If we get a pop this morning (don't think so though) I may lighten up, just a little, due to lingering uncertainties.
J
Could not help myself and was buying 3000 shares at $5.99 :-) hard habbit to break
J
Thinking we should hear the results of the bondholder time extension soon?
C
Past couple of trading sessions; trading down from the 1B market cap. We need to stabilize in order to get another run up. Hopefully the "finalized" bond deal is not "sell the news".
C
Why have NO analysts stepped up to the plate and gave their opinion and/or stated a price target with any kind of an upgrade/downgrade? The last opinion was from Jefferies back in Feb, 2020; they downgraded from $3 to $2.70.
C
Where is @HarshaK ??? Did he take some off the table and is counting all the money he made? Hats off to @HarshaK for backing up the truck and picking up lots of GSM during the sub $1 days !!!
C
Ferroglobe seems to be pulling some shenanigans. There was another filing (Notice of Effectiveness) yesterday stating that File Number: 333-255973 effective. Meaning the amended F-3 (Selling of 400M shares) is official. Here is the statement in the F-3 filing from the other day.
The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the U.S. Securities and Exchange Commission acting pursuant to said Section 8(a), may determine.
Hold on to your hats. Today may be an interesting day.
J
If anyone can share a past stock play where the company diluted shareholders to payoff noteholders with the outcome being the company is nearly debt-free, please comment here as I would like to know what the effect was on the share price. While no two companies are the same nor their circumstances, it would be great information to reflect on.
The consummation of the Exchange Offer remains subject to satisfaction or waiver of certain conditions (the “Exchange Offer Conditions”). The Exchange Offer Conditions include (i) the receipt of at least $40 million in gross proceeds from the issuance and sale of new ordinary shares of the Parent to investors (the “Equity Placement”), approximately $5 million of which has already been received, and (ii) the receipt of at least $20 million in gross proceeds from the Super Senior Notes Offer or from the backstop arrangement thereof (together, the “Transaction Effective Date Condition”). The Transaction Effective Date Condition may not be waived.
He/She is MIA !
https://www.impacthustlers.com/podcast-episodes/creating-the-future-of-electric-car-batteries-rick-luebbe-of-group14
hard habbit to break
The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the U.S. Securities and Exchange Commission acting pursuant to said Section 8(a), may determine.
Hold on to your hats. Today may be an interesting day.