Almonty Industries Inc. is trading 5.7% down at $15.51 as investors react to dilution concerns stemming from its recently priced $700 million oversubscribed convertible senior notes offering.
- The offering was set at a 32.5% premium to the June 4 closing price of $20.68, but the significant size of the financing continues to trigger a pullback.
- Broader market weakness in cryptocurrencies and other risk assets is adding further pressure to the stock as it digests the large capital raise.