Rayonier Advanced Materials Announces Sale Of GreenFirst Forest Products Inc. Shares
Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company”) announced that it has sold 28,684,433 common shares of GreenFirst Forest Products Inc. to a wholly-owned subsidiary of Interfor Corporation for approximately $43.3 million. The agreement contains a Purchase Price Protection clause whereby the Company is entitled to participate in further stock price appreciation under certain circumstances and for a specified period.
Consistent with prior communications, the Company expects to use cash proceeds from this transaction to opportunistically repay debt or assist with a holistic refinancing of its capital structure, including its Senior Notes due on June 1, 2024.
https://investors.rayonieram.com/news-releases/news-release-details/rayonier-advanced-materials-announces-sale-greenfirst-forest