Sigma Lithium Posts 32% Gross Margin in Q3 2026 Preview and Extends Over 90% of Debt Maturity via Convertible Bond

Sigma Lithium released a preview of selected preliminary, unaudited results for the third quarter ended September 30, 2026, reporting a gross margin of 32% and CIF costs of US$518 per tonne. The company described the quarter as part of a transformational period in which it successfully turned around its balance sheet.

The centerpiece of that turnaround is a US$100 million, five-year inaugural convertible bond issued in Hong Kong, with the bonds convertible at a 25% premium into the company's ASX-listed CHESS Depositary Interests. The proceeds are earmarked to repay the senior secured debt held by Synergy Capital, which had been extended to June 2027, pushing the effective maturity profile out to 2031. The refinancing reduces short-term debt by approximately 80%, from US$125 million on a pro forma basis, and replaces secured debt with unsecured debt, releasing corporate security previously tied to the Synergy facility. In total, more than 90% of Sigma Lithium's debt maturities have been extended through this transaction.

The deal caps a multi-year deleveraging effort in which the company repaid more than US$90 million in debt since the second quarter of 2024 through cash generation alone, reducing total debt by roughly 40% over that period. With short-term obligations now cleared, management said the company can accelerate production ramp-up and build operating cash flow ahead of the new 2031 maturity.