Rayonier Advanced Materials Announces Sale Of GreenFirst Forest Products Inc. Shares

JACKSONVILLE, Fla. — May 2, 2022 — Rayonier Advanced Materials Inc. announced that it has sold 28,684,433 common shares of GreenFirst Forest Products Inc. to a wholly-owned subsidiary of Interfor Corp. 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.

Posted: May 3, 2022

Source: Rayonier Advanced Materials Inc.