5N Plus Inc. Completes $62 Million Initial Public Offering

Montréal, Québec – 5N Plus Inc. (TSX: VNP) today completed its previously announced initial public offering and secondary offering of 20,671,801 common shares at a price of $3.00 per share, for total proceeds of $62 million. The Company’s common shares commenced trading today on the Toronto Stock Exchange under the symbol “VNP”. At closing, 5N Plus issued 10,000,000 common shares from treasury, for gross proceeds to the Company of $30 million. The net proceeds from the treasury offering will be used by 5N Plus primarily to: (i) fund the construction of its new 40,000 square-foot manufacturing facility in Eisenhüttenstadt, Germany, intended to increase the Company’s annual cadmium telluride production capacity; (ii) fund various capital expenditures at its Montreal facility; and (iii) repay the Company’s bank loan and a portion of its long-term debt. The balance of the net proceeds from the treasury offering will be used by 5N Plus for general corporate purposes and working capital. Link.