Majority Holder Unloads Stillwater (SW)
Stillwater Mining Co. (NYSE: SWC) has seen a large run this year due to it being a miner in platinum and palladium. It has also gotten back up close to multi-year highs before a recent small pullback. Shares are going…
Concurrently with the secondary offering, the selling holder expects to sell an additional 7.84 million shares to UBS Securities and affiliates in connection with an offering by UBS AG of its Mandatorily Exchangeable Notes due 2012.
An overallotment option has been granted for up to 3,813,222 additional shares of common stock; and an additional option was granted for up to 1.16 million shares tied to the exchangeable notes offering.
Credit Suisse Securities, J.P. Morgan Securities, UBS Securities, and VTB Capital PLC are listed as joint book-runners in the public offering of the common stock.
The market cap based on a $20.01 close on Friday is roughly $1.96 billion, and the 52-week trading range is $8.37 to $21.73.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
