Equinox Gold to redeem $172.5M convertible notes
Equinox Gold will redeem all $172.5 million of its 4.75% convertible notes in October 2026, while giving holders the option to convert into shares before the deadline.
Rhea-AI Filing Summary
Equinox Gold Corp. (EQX) is redeeming all of its outstanding $172.5 million principal amount of 4.75% Convertible Senior Notes due October 15, 2028 on October 20, 2026, at a redemption price equal to 100% of principal plus accrued and unpaid interest, or about $1,000.66 per $1,000 note.
Noteholders may convert their notes in $1,000 increments until 5:00 p.m. New York City time on October 19, 2026 at an adjusted conversion rate of 165.0732 common shares per $1,000, implying a conversion price of about $6.0579. If all notes are converted, up to 28,475,124 common shares would be issued, representing approximately 2.44% of common shares outstanding.
Positive
- $172.5 million of 4.75% Convertible Senior Notes will be fully redeemed, removing this debt series from Equinox Gold's capital structure.
Negative
- None.
Filing Explained
This 6-K records an announced election for a future redemption, not a completed redemption: Notes not converted by
Key Figures
Convertible Notes Principal: $172.5 million
Coupon Rate: 4.75%
Redemption Date: October 20, 2026
+5 more
8 metrics
Convertible Notes Principal
$172.5 million
Aggregate principal amount of 4.75% Convertible Senior Notes to be redeemed
Coupon Rate
4.75%
Interest rate on the Convertible Senior Notes due October 15, 2028
Redemption Date
October 20, 2026
Date on which all outstanding notes will be redeemed
Redemption Price per $1,000
$1,000.66
Approximate redemption price including accrued and unpaid interest per $1,000 principal
Conversion Deadline
October 19, 2026, 5:00 p.m. New York City time
Latest time holders may convert notes before redemption
Adjusted Conversion Rate
165.0732 shares per $1,000
Common shares issuable per $1,000 principal after dividend and make-whole adjustments
Implied Conversion Price
$6.0579 per share
Conversion price based on the adjusted conversion rate
Maximum Shares Issuable on Conversion
28,475,124 shares
Maximum common shares if all notes are converted, about 2.44% of common shares outstanding
Key Terms
Convertible Senior Notes, Redemption Date, conversion rate, make-whole increase, +1 more
5 terms
Convertible Senior Notes financial
"redemption of its Outstanding 4.75% Convertible Senior Notes Due October 2028"
Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.
Redemption Date financial
"on October 20, 2026 (the “Redemption Date”), the Company will redeem"
The redemption date is the specific day when a debt-like security (such as a bond, preferred share, or certificate) must be repaid by the issuer and the investor receives the principal plus any final interest or dividends. It matters to investors because it tells when cash will return, shapes the effective return and price of the security, and creates reinvestment and timing considerations—like knowing when a loan is due so you can plan what to do with the returned money.
conversion rate financial
"the conversion rate under the Indenture is 158.7302 common shares"
Conversion rate is the proportion of items, people or contracts that take a desired action out of the total possible — for example the share of website visitors who make a purchase, or the number of convertible bonds that are exchanged for shares. Investors care because it measures how effectively a business or financial instrument turns opportunity into real outcomes, like sales or share issuance, which directly affects revenue, cash flow and ownership dilution.
make-whole increase financial
"after giving effect to the applicable dividend adjustment and make-whole increase"
A make-whole increase is an adjustment that raises the amount a holder of a convertible security, warrant, or preferred share can receive — usually by increasing the number of common shares issuable or the cash payout — to compensate for corporate actions that would otherwise reduce the holder’s economic value. Think of it like topping up someone’s meal when part of it was taken away: it preserves the original financial benefit after events such as dividends, spin-offs, asset sales, or early redemptions. This matters to investors because it changes potential dilution, share counts, or cash obligations tied to those securities.
Forward-looking Information regulatory
"This news release includes forward-looking information and Forward-looking Information"
Forward-looking information are predictions, plans, estimates or expectations about a company’s future performance, results or events, such as sales forecasts, project timelines, or anticipated costs. It matters to investors because these statements guide expectations but rely on assumptions and uncertain factors—like a weather forecast for a business—so investors should treat them as informed guesses rather than guarantees and consider the risks and possible changes behind the numbers.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Equinox Gold (EQX) announce regarding its 4.75% Convertible Senior Notes?
Equinox Gold announced it will redeem all outstanding $172.5 million of its 4.75% Convertible Senior Notes due October 15, 2028 on October 20, 2026, at 100% of principal plus accrued and unpaid interest.
When is the redemption date and conversion deadline for Equinox Gold’s notes?
The notes will be redeemed on October 20, 2026. Holders may convert their notes until 5:00 p.m. New York City time on October 19, 2026, or later only if the redemption price is not paid on the redemption date.
What is the conversion rate and implied price for Equinox Gold’s 4.75% notes?
As of September 18, 2026, the adjusted conversion rate is 165.0732 common shares per $1,000 principal, representing a conversion price of approximately $6.0579 per share after dividend and make-whole adjustments under the indenture.
What redemption price will Equinox Gold pay for the 4.75% notes?
For each $1,000 principal amount of notes, the redemption price will equal 100% of principal plus accrued and unpaid interest to, but excluding, the redemption date, or approximately $1,000.66 per $1,000 note.
AI-generated analysis. How Rhea-AI works. Not financial advice.
