Vulcan announces redemption of all $30.3M senior notes due 2026
- Vulcan Infrastructure and Power (VIP) announced on Monday it plans to redeem all $30.3M of outstanding 8.50% senior notes due 2026 on Oct. 13.
- The redemption will cost about $30.9M, including $30.3M of principal and approximately $523K of accrued interest.
- The company has shifted $2.8M of its 2026 debt into 10.00% notes due 2030 while also issuing warrants for up to 1M shares at $1.87 each.
- After retiring the remaining 2026 notes and covering about $1.4M in PIPE-related expenses, the company expects about $16.9M in cash and digital assets.
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