GSM - Ferroglobe says talks to include potential recapitalization

Ferroglobe ([[GSM]] +22.9%) pops at the open after saying potential financing arrangements being discussed with noteholders include a recapitalization of the business with $100M additional liquidity, which it says would guarantee sufficient funding to implement the company's strategic plan.The additional liquidity would include $60M of new super senior notes provided by existing noteholders and $40M of new equity funding.The talks also include "significant extension" of Ferroglobe's debt maturity profile.Ferroglobe shares have gained 37% since Individual Trader said "the worst seems to be over" for the company in a bullish analysis posted in late December on Seeking Alpha.

For further details see:

Ferroglobe says talks to include potential recapitalization