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LSB Industries, Inc. (symbol: LXU) is a diverse manufacturing, marketing, and engineering enterprise with a global footprint. The company's core operations involve the production and sale of a wide array of products used in both commercial and residential air-conditioning systems, as well as chemical products catering to various industries.
Under its subsidiaries, LSB Industries is a key player in the hydronic fan coils, water source and geothermal heat pumps, and large custom air handlers markets. These products are integral to air-conditioning systems, serving both commercial and residential sectors. The company’s innovative solutions in this area are renowned for their efficiency and reliability.
In addition to its HVAC (Heating, Ventilation, and Air Conditioning) products, LSB Industries is significantly involved in the chemical manufacturing industry within the United States. It produces and sells a variety of chemical products tailored to the agricultural, industrial, and mining sectors. The agricultural product line includes ammonia, fertilizer grade ammonium nitrate (AN and HDAN), and urea ammonia nitrate (UAN), which are vital for crop nutrition and soil management.
The industrial segment features products such as high purity and commercial grade ammonia, sulfuric acids, concentrated, blended, and regular nitric acid, and carbon dioxide. These chemicals are essential for a variety of industrial processes. Additionally, LSB Industries supplies diesel exhaust fluid, a critical component for reducing diesel engine emissions.
In the mining sector, LSB Industries provides industrial grade AN (LDAN) and AN solutions, which are crucial for blasting and other mining operations. The company’s products reach customers throughout the United States and North America via distributors and direct sales channels.
Recently, LSB Industries has been actively expanding its market reach and enhancing its product offerings. Strategic partnerships and ongoing projects highlight the company’s commitment to growth and innovation. The firm's financial health remains robust, backed by consistent performance and a clear focus on operational excellence.
To sum up, LSB Industries, Inc. stands out for its diversified portfolio and strong presence in both the HVAC and chemical manufacturing industries. It continues to drive value for its stakeholders through quality products, strategic initiatives, and exceptional market performance.
LSB Industries, Inc. (NYSE: LXU) faced a halt in trading on October 12, 2021, due to inaccurate information about a stock dividend paid on October 8, 2021. The NYSE initially stated that all 79.4 million shares would receive a 0.30 share dividend, but only 30.4 million shares were eligible. This misinformation caused a 30% drop in stock price on October 11, 2021. The NYSE later corrected its notice, reducing the impact of the stock dividend on prices to an approximate 11.5% increase in shares outstanding. LSB currently has around 88.6 million shares outstanding.
LSB Industries, Inc. (NYSE: LXU) announced a trading halt on its common stock due to a stock price adjustment related to 49,066,005 shares issued to LSB Funding LLC. These shares did not qualify for a dividend because they were not outstanding on the record date of September 24, 2021. The company is currently collaborating with the NYSE to resolve this situation and facilitate the resumption of trading.
LSB Industries, Inc. (NYSE: LXU) priced its offering of $500 million in senior secured notes due 2028 at an interest rate of 6.250%. The notes will be guaranteed by LSB’s subsidiaries and secured by a substantial portion of its assets. The proceeds will primarily be used to redeem $435 million of existing 9.625% senior secured notes due 2023 and cover related expenses. The redemption is scheduled for October 29, 2021. This offering aims to improve LSB's financial position amidst market uncertainties.
LSB Industries (NYSE: LXU) announced the closing of an Exchange Transaction with Eldridge Industries to convert $310 million in preferred stock into common stock. The transaction was approved on September 22, 2021, and involved an exchange price of $6.16 per share. A special dividend of 0.30 shares of common stock per existing share will be distributed to stockholders on October 8, 2021. Following the transaction, approximately 88.9 million shares will be outstanding, with Eldridge holding 61%.
LSB Industries, Inc. (NYSE: LXU) plans to offer $500 million in senior secured notes due 2028 in a private placement. Proceeds will be used to redeem $435 million of existing 9.625% Senior Secured Notes due 2023, covering transaction fees, and for general corporate purposes. The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. The notes will be fully guaranteed by existing and certain future subsidiaries.
LSB Industries, Inc. (NYSE: LXU) announced the results of its special stockholder meeting, where investors overwhelmingly approved an Exchange Transaction with LSB Funding LLC, an affiliate of Eldridge Industries. About 99% of votes supported the proposals, which included exchanging LSB Preferred Stock for common stock and increasing authorized common stock to 150 million shares. A total of 20.4 million of the 27.1 million common shares voted represented 75.1% of the outstanding shares, confirming strong shareholder support for the company's growth strategy.
LSB Industries, Inc. (NYSE:LXU) has appointed Fred Buonocore as Vice President of Investor Relations, effective September 7, 2021. Buonocore will enhance communication with the investment community, focusing on building relationships with investors and conveying the company's ESG strategies. CEO Mark Behrman expressed confidence in Buonocore’s experience, highlighting ongoing improvements in operations and capital structure. The new investor relations program aims to boost shareholder value by sharing LSB's story more effectively with the broader investment community.
LSB Industries, Inc. (NYSE: LXU) has declared a special stock dividend of 0.3 shares for each outstanding share, payable on October 8, 2021, to holders of record as of September 24, 2021. This dividend is contingent upon the closing of an exchange agreement with LSB Funding LLC. The special meeting for stockholder approval is scheduled for September 22, 2021. The ex-dividend date is October 12, 2021.
LSB Industries has scheduled a special meeting on
LSB Industries (NYSE: LXU) reported a significant financial performance for Q2 2021, with net sales soaring to $140.7 million, up 34% from $105 million in Q2 2020. Adjusted EBITDA reached a record $46 million, marking a 60% increase year-over-year. The company highlighted robust demand in agricultural and industrial sectors, despite challenges from winter storms and wet weather impacting production. LSB initiated a preferred stock exchange to lower capital costs and enhance growth opportunities. Total liquidity stood at $68 million.
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