Almonty Industries Inc. is trading 10.5% down at $14.72 on dilution concerns following its US$700 million oversubscribed convertible senior notes offering.
- The deal was priced at a 32.5% premium to the June 4 close, but the potential for significant future share issuance has triggered a sell-off.
- Sentiment is also being pressured by a weak broader risk backdrop and falling cryptocurrency prices, which are impacting crypto-linked equities.