SILVERCORP ANNOUNCES PRICING OF US$130 MILLION CONVERTIBLE SENIOR NOTES OFFERING By Investing.com

Trading Symbol: TSX: SVM
NYSE AMERICAN: SVM

VANCOUVER, BC, Nov. 21, 2024 /PRNewswire/ – Silvercorp Metals Inc (NYSE:). (“Silvercorp” or the “Company”) (TSX: SVM) (NYSE American: SVM) today announced that it has priced its previously announced private placement offering of US$130,000,000 aggregate principal amount of 4.75% convertible senior notes due 2029 (the “Notes” and the “Offering”). The Company also granted the initial purchasers of the Notes an option to purchase up to an additional US$20,000,000 aggregate principal amount of Notes, exercisable in whole or in part at any time until 20 days after the closing of the Offering.

The Notes will be senior unsecured obligations of the Company. The Notes will accrue interest payable semi-annually in arrears at a rate of 4.75% per annum and will mature on December 15, 2029, unless earlier repurchased, redeemed or converted. The initial conversion rate of the Notes is 216.0761 common shares of the Company (“Common Shares”) per $1,000 principal amount of Notes, or an initial conversion price of approximately US$4.63 (equivalent to approximately C$6.48) per Common Share. The initial conversion price of the Notes represents a premium of approximately 30% over the last reported sale price of the Company’s Common Shares on November 20, 2024, which was US$3.56 per share as reported on the NYSE American LLC.

The Notes will be convertible at the option of holders, prior to the close of business on the business day immediately preceding September 15, 2029, only under certain circumstances and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Notes may be settled, at the Company’s election, in cash, Common Shares or a combination thereof. The Notes will not be redeemable at the Company’s option prior to December 20, 2027, except upon the occurrence of certain tax law changes. On or after December 20, 2027 and on or prior to the 51st scheduled trading day immediately preceding the maturity date, the Notes will be redeemable at the Company’s option if the last reported sale price of the Company’s Common Shares has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and…