Hecla Mining Company announced two significant capital structure updates: the establishment of an at-the-market (ATM) equity program to sell up to 50 million common shares and a call for redemption of all outstanding Series B Cumulative Convertible Preferred Stock. These actions provide future financing flexibility and simplify the company's capital structure.
Key Details
- At-The-Market (ATM) Program: Hecla entered an Equity Distribution Agreement on November 10, 2026, allowing it to offer and sell up to 50 million shares of its common stock from time to time. Sales agents will receive a commission not to exceed 1.5% of the gross proceeds.
- Preferred Stock Redemption: The company will redeem all outstanding shares of its Series B Preferred Stock on December 11, 2026, for a cash price of $50.6806 per share (including accrued dividends), for a total potential cash payment of approximately $7.64 million.
- Conversion Option & Management Change: Holders may convert preferred shares into common stock until December 10, 2026. Additionally, effective November 6, 2026, CFO Russell D. Lawlar was appointed to also serve as Principal Accounting Officer, following the departure of Stuart Absolom.