Notice to Holders
ArcelorMittal provided notice to all Holders of the US$1.25 billion 5.50% Mandatorily Convertible Subordinated Notes due 2023 that, as a result of the Cash Dividend of US$0.38 per Share payable to shareholders of record on June 10, 2022, the following adjustments have become effective as of May 13, 2022:
- The Maximum Conversion Ratio is adjusted to 2.76012 (from 2.72207 previously);
- The Minimum Conversion Ratio is adjusted to 2.34903 (from 2.31665 previously);
- The Maximum Conversion Price is adjusted to US$10.64050 per Share (from US$10.78922 previously); and
- The Minimum Conversion Price is adjusted to US$9.05761 per Share (from US$9.18421 previously).
On May 12, 2020, ArcelorMittal announced the pricing of its offerings of common shares, without nominal value and mandatorily convertible subordinated notes.
The total aggregate gross proceeds from the offerings are approximately $2.0bn (before deduction of commissions). The share offering is for an aggregate amount of $750m, representing approximately 80.9 million common shares at an offering price of $9.27 (EUR 8.57 at a EUR/USD conversion rate of 1.0816) per share.