SSR MINING INC. 8-K

What Happened

• SSR Mining Inc. filed an 8-K on February 18, 2026 announcing a notice of redemption for its 2.50% Convertible Senior Notes due 2039. The Company will redeem all outstanding Notes that are not converted as of the Redemption Date, March 20, 2026. The Notes were issued under an indenture dated March 19, 2019 with The Bank of New York Mellon as trustee.

Key Details

• Original principal amount: $230,000,000; outstanding principal as of the filing: $227,495,000.
• Redemption Date: March 20, 2026; Conversion Deadline for holders: 5:00 PM New York time on March 19, 2026.
• Redemption payment: 100% of principal plus accrued and unpaid interest to (but excluding) the Redemption Date, plus a make-whole premium equal to the present value of the remaining scheduled interest through April 1, 2026. Interest stops accruing on and after the Redemption Date.
• Conversion terms if converted after the notice: the Conversion Rate is 56.7931 common shares per $1,000 principal (adjusted from the initial 54.1082). Conversions after the notice and before the deadline will be settled with common shares, cash in lieu of fractional shares, accrued interest to (but excluding) the conversion date, and the Make-Whole Premium.

Why It Matters

• For noteholders: they must decide whether to convert to equity by March 19, 2026 (potentially receiving newly issued shares) or accept cash redemption on March 20, 2026 (principal + interest + make-whole premium).
• For investors and the company's capital structure: the redemption will retire the outstanding convertible debt (unless converted), reducing leverage and future interest obligations but could dilute existing shareholders if holders convert before the deadline. The Company will incur a cash outflow if it redeems rather than converts.