Home  »  Stocks to Invest   »  Ferroglobe PLC Inc. (GSM) stock gains in the curre...

Ferroglobe PLC Inc. (GSM) stock gains in the current market trading. Here’s what’s happening?

Ferroglobe PLC Inc. (GSM) stock surges by 10.77% at last check in the current market trading. Ferroglobe is a global provider of silicon metal, silicon-based and manganese-based specialty alloys, and ferroalloys, with customers in solar, automobile, consumer electronics, construction, and energy.

Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .

Sponsored

What is happening?

On April 21, 2021, GSM is delighted to report that the Lock-Up Agreement has been signed or acceded to by holders of approximately 96 percent by volume of the 9.375 percent Senior Notes due 2022 issued by GSM and Globe Specialty Metals, Inc. (the “2022 Senior Notes”).

As a result, GSM has agreed to amend the Lock-Up Agreement to allow it to continue with the deal via a swap offer rather than an English law scheme of arrangement. Concurrent with the swap bid consents to amend the terms of any non-participating 2022 Senior Notes to exclude significantly all restrictive covenants, some cases of default, and other relevant clauses may be sought. Holders of 2022 Senior Notes will receive more details about the swap offer in due time.

On March 30, 2021

GSM has reported that it has met with the European Works Council (“EWC”) to discuss the specifics of plans for an asset optimization initiative aimed at ensuring the company’s long-term viability in Europe. GSM hopes to limit or stop production at some of its European sites as a result of this process.

Ferroglobe is pursuing a wider corporate restructuring plan to improve its financial position and overall competitiveness, and achieving the optimum asset footprint is a key component of the approach. Ferroglobe shared tentative ideas for its strategic strategy during the conference, which marked the formal launch of the works council dialogue process with the EWC.

Leave a Comment

Your email address will not be published.

Related Posts