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Ferroglobe - GSM STOCK NEWS

Welcome to our dedicated page for Ferroglobe news (Ticker: GSM), a resource for investors and traders seeking the latest updates and insights on Ferroglobe stock.

Ferroglobe PLC (GSM), a global leader in silicon metal and specialty alloy production, maintains this centralized news hub for investors and industry stakeholders. Access real-time updates on operational milestones, financial performance, and strategic initiatives shaping the electrometallurgy sector.

This resource aggregates official press releases, earnings reports, and market analyses to help users track production innovations, sustainability efforts, and supply chain developments. Key content includes:

• Quarterly financial results and SEC filings
• Strategic partnerships in solar/automotive sectors
• Operational updates from global facilities
• Raw material market trend analyses

Bookmark this page for streamlined access to verified information about Ferroglobe's role in advanced material manufacturing and energy-efficient production processes.

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Ferroglobe PLC (NASDAQ:GSM) will release its third quarter financial results after market close on November 16, 2021. The quarterly earnings call is scheduled for November 17, 2021, at 8:30 AM EST. Interested participants can join by dialing in or through an online audio webcast. Ferroglobe specializes in silicon metal and manganese-based alloys, catering to various sectors, including solar and automotive.

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Ferroglobe PLC (NASDAQ: GSM) announced plans to restart its silicon metal facility in Selma, Alabama, through its subsidiary Globe Metallurgical Inc. (GMI). This restart involves a two-furnace operation with an annual capacity of 22,000 tons, aiming to resume one furnace by December 2021 and the second by March 2022. The project will create approximately 100 new local jobs and requires support from New Market Tax Credits for commissioning costs and equipment upgrades. CEO Marco Levi highlighted the facility's significance following the shutdown of another site in New York.

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Ferroglobe reported Q2 2021 sales of $418.5 million, a 15.8% increase from Q1 2021 and a 67.4% rise year-over-year. Adjusted EBITDA reached $34.1 million, up 54.5% from Q1 2021. The company returned to profitability with a net income of $0.7 million, contrasting with prior losses. Operating cash flow was positive at $37.8 million, with net cash flow of $21.6 million. Despite a modest increase in working capital, the company faces challenges from fixed pricing contracts and inflationary pressures, impacting future performance.

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Ferroglobe PLC (NASDAQ:GSM) will announce its second quarter financial results after market close on August 23, 2021. A conference call is scheduled for August 24, 2021, at 9:00 AM EDT, inviting stakeholders to join for insights on the company's financial performance. Participants can access the call by dialing the provided numbers or through an audio webcast. Ferroglobe specializes in silicon metal and specialty alloys, catering to sectors like solar, automotive, and construction. For investor queries, Gaurav Mehta is the contact person.

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Ferroglobe has successfully finalized a financing transaction, marking a significant milestone for the company. The transaction, effective July 30, 2021, involved an aggregate of $40 million from issuing ordinary shares to investors and the exchange of 98.588% of its senior notes for new secured notes due in 2025. Additionally, the UK Issuer raised $60 million through new senior secured notes. This financing is expected to enhance liquidity, extend debt maturity, and support Ferroglobe’s transformation efforts, as noted by executives.

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The U.S. International Trade Commission (ITC) has confirmed a 5-0 vote determining that silicon metal imports from Malaysia have materially harmed the U.S. industry, leading to a formal antidumping duty order. This decision affects all Malaysian silicon metal imports for at least five years. The antidumping duties follow previous preliminary duties of 7.41% announced on January 27, 2021. Leaders from both Globe Specialty Metals and Mississippi Silicon expressed satisfaction with the ruling, emphasizing its positive impact on U.S. businesses and workers.

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Ferroglobe has announced the results of its Exchange Offer for $1,000 principal amount of 9⅜% Senior Notes due 2022. As of July 21, 2021, holders of approximately $345 million in Old Notes, about 98.6% of the total, participated in the exchange. The deal includes the issuance of new 9⅜% senior secured notes due 2025 and a cash fee directing investments into new ordinary shares. The success of the Exchange Offer is contingent on raising at least $40 million from new shares and $20 million from Super Senior Notes, with $5 million already secured.

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On June 23, 2021, Ferroglobe PLC, Ferroglobe Finance Company, PLC, and Globe Specialty Metals, Inc. launched an exchange offer for 9⅜% Senior Notes due 2022, proposing new senior secured notes due 2025. This includes a solicitation for amendments to the Old Notes and an offer for additional senior secured notes. The Super Senior Notes Offer Subscription Deadline has been extended to 5 pm EDT on July 8, 2021. Other key deadlines for the notes remain unchanged, including July 13, 2021, for KYC clearance and July 22, 2021, for escrow funding.

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On June 23, 2021, Ferroglobe PLC initiated an exchange offer for its 9⅜% Senior Notes due 2022, offering holders a combination of new 9⅜% senior secured notes due 2025 and equity fees. The Exchange Offer is set to expire on July 21, 2021, with a deadline of July 7, 2021, for submitting Custody Instructions for the related Super Senior Notes Offer. The offering aims to amend existing note indentures and enhance liquidity for noteholders. Ferroglobe is a leading supplier of silicon-based products across various industries, indicating its strategic move to solidify its financial standing.

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Ferroglobe PLC, along with Ferroglobe Finance Company and Globe Specialty Metals, has announced an Exchange Offer for qualifying noteholders to exchange their 9⅜% Senior Notes due 2022 for new 9⅜% senior secured notes due 2025 and a cash fee. The total consideration for each $1,000 of Old Notes includes $1,000 principal of New Notes plus an Equity Fee. The offer expires on July 21, 2021, with a minimum participation condition of $335.72 million of Old Notes. Concurrently, there is a Super Senior Notes Offer for existing holders, requiring participation in the Exchange Offer.

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Ferroglobe

Nasdaq:GSM

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GSM Stock Data

704.57M
119.28M
36.52%
53.17%
1.11%
Other Industrial Metals & Mining
Primary Smelting & Refining of Nonferrous Metals
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United Kingdom
MIAMI