LSB Industries Stock Price, News & Analysis

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 September 22, 2021 for stockholders, with an August 2, 2021 record date. The meeting aims to discuss an exchange agreement with Eldridge Industries to convert $310 million of preferred stock into common stock, at a price of $6.16 per share. Stockholders will receive a special dividend of 0.30 shares for each owned share. This transaction could eliminate existing financial burdens, provide improved financial flexibility, and maintain tax attributes, enabling growth in sectors like green ammonia.

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.

LSB Industries, Inc. (NYSE: LXU) has signed an Exchange Agreement with LSB Funding LLC to convert approximately $300 million of its preferred stock into common stock at an exchange price of $6.16. Common stockholders will receive a special dividend of 0.30 shares per share owned. This action is expected to improve the company's financial flexibility, reduce cash interest expenses, and preserve $620 million in federal net operating losses. The transaction aims to unlock shareholder value and facilitate organic growth and M&A opportunities.

LSB Industries, Inc. (NYSE: LXU) will release its financial results for Q2 2021 on July 28, 2021, after market close. A conference call will be held on July 29, 2021, at 10:00 am ET to discuss the results, featuring CEO Mark Behrman and CFO Cheryl Maguire. Interested participants can join by calling (201) 493-6739. Additionally, a slide presentation will be available on LSB's website before the call. LSB Industries manufactures chemical products for various markets and operates multiple facilities across the U.S., providing key insights into their business performance.