Ur-Energy(US:URG) Accessnewswire·2025-12-15 22:05Core Viewpoint - Ur-Energy Inc. successfully closed a $120 million offering of 4.75% Convertible Senior Notes due 2031, which was oversubscribed and included an additional $20 million purchased by initial investors, indicating strong market confidence in the company [1][3]. Strategic Capital Raise - The proceeds from the offering are expected to strengthen the company's balance sheet and enhance production ramp-up at the Lost Creek mine and construction activities at the Shirley Basin mine [6]. - The offering is structured without restrictive covenants, providing enhanced operational and financial flexibility compared to conventional secured debt [6]. - The notes will initially accrue interest like debt and are not immediately dilutive, with a conversion price set at a premium of approximately 27.5% over the last reported share price [6]. - Compared to a straight equity offering, this structure allows Ur-Energy to raise significant capital with less near-term dilution to existing shareholders [6]. Summary of the Offering - The cash interest coupon is set at 4.75% per annum, payable semi-annually starting July 15, 2026 [6]. - The conversion price is approximately $1.73 per common share, representing a 27.5% premium to the last reported sale price on December 10, 2025 [6]. - The company purchased cash-settled capped call options to mitigate potential economic dilution, with a cap price of $2.72, representing a 100% premium over the last reported share price [6]. - Conversions of the notes may be settled in common shares, cash, or a combination, and the company has the right to redeem the notes under certain circumstances [6][7]. Company Overview - Ur-Energy is a uranium mining company operating the Lost Creek in situ recovery uranium facility in Wyoming, having produced approximately 3 million pounds of UO since operations began [9]. - The company is also developing the Shirley Basin, its second in situ recovery uranium facility in Wyoming [9].