enCore Energy Corp. Completes Upsized $115 Million Offering of Senior Convertible Notes

Core Points - enCore Energy Corp. has successfully closed an offering of $115 million in 5.50% Convertible Senior Notes due 2030, which includes an upsized offering of $100 million and a full exercise of a $15 million option [1][3] - The initial conversion rate for the Convertible Notes is set at 303.9976 common shares per $1,000 principal amount, translating to an initial conversion price of $3.2895 per common share, representing a 27.5% premium over the last reported sale price of $2.58 per share on August 19, 2025 [2] - The net proceeds from the offering amount to approximately $109.8 million, with $11.5 million allocated for capped call transactions and $10.6 million for repaying outstanding loan amounts, while the remainder will be used for general corporate purposes [3] Company Overview - enCore Energy Corp. is recognized as America's Clean Energy Company™, focusing on providing clean, reliable, and affordable fuel for nuclear energy, being the only U.S. uranium company with multiple Central Processing Plants in operation [6] - The company employs In-Situ Recovery (ISR) technology for uranium extraction, which is a proven method co-developed by its leadership team [6] - Future projects in enCore's pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming, alongside other non-core assets and proprietary databases [7]