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Livent Corporation Prices Private Offering Of $225M Of Convertible Senior Notes Due 2025

PHILADELPHIA, June 23, 2020 /PRNewswire/ -- Livent Corporation (NYSE:LTHM) ("Livent") today announced the pricing of $225 million aggregate principal amount of 4.125% Convertible

Benzinga · -

PHILADELPHIA, June 23, 2020 /PRNewswire/ -- Livent Corporation (NYSE:LTHM) ("Livent") today announced the pricing of $225 million aggregate principal amount of 4.125% Convertible Senior Notes due 2025 (the "Green Notes") in a private offering (the "Offering") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Livent also granted the initial purchasers of the Green Notes a 13-day option to purchase up to an additional $33.75 million aggregate principal amount of the Green Notes. The sale of the Green Notes to the initial purchasers is expected to close on June 25, 2020, subject to customary closing conditions, and is expected to result in approximately $217.8 million (or approximately $250.6 million if the initial purchasers exercise their option to purchase additional Green Notes in full) in net proceeds to Livent after deducting the initial purchasers' discount and estimated offering expenses payable by Livent.