Sigma Lithium Issues $100M Convertible Bond and Reports 32% Gross Margin in Q3 2026 Preview

Sigma Lithium announced a US$100 million, five-year inaugural convertible bond offering issued in Hong Kong, with the bonds convertible at a 25% premium into the company's ASX-listed CHESS Depositary Interests. The primary use of proceeds is to repay the senior secured debt held by Synergy Capital, which had previously been extended to June 2027, pushing the effective maturity profile out to 2031.

The refinancing extends over 90% of the company's debt maturity and reduces short-term debt by approximately 80%, from US$125 million. Sigma described the move as completing a turnaround of its balance sheet, positioning it to accelerate production ramp-up and build operating cash flow.

Alongside the financing announcement, Sigma previewed selected preliminary, unaudited results for the third quarter ended September 30, 2026. The company reported a gross margin of 32% and CIF costs of US$518 per tonne, which management characterized as part of a transformational period for the company.