Tronox Holdings plc (NYSE:TROX), announced today that the previously announced underwritten registered offering by Exxaro Resources Limited was upsized to 19,108,970 ordinary shares of the Company and was priced to the public at $18.25 per share. In connection with the offering, the selling shareholder has granted the underwriters a 30-day option to purchase up to 2,866,345 additional shares. The selling shareholder will receive all of the net proceeds from the offering. No shares are being sold by the Company in the offering.
The offering is expected to close on March 1, 2021, subject to satisfactory completion of customary closing conditions.
J.P. Morgan is acting as joint bookrunning manager and representative of the underwriters. BofA Securities, Deutsche Bank Securities and Morgan Stanley are also acting as joint bookrunning managers.
The ordinary shares described above are being offered by the selling shareholder pursuant to an effective shelf registration statement on Form S-3 previously filed by the Company with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Tronox Holdings plc is one of the world's leading producers of high-quality titanium products, including titanium dioxide pigment, specialty-grade titanium dioxide products and high-purity titanium chemicals; and zircon. We mine titanium-bearing mineral sands and operate upgrading facilities that produce high-grade titanium feedstock materials, pig iron and other minerals.