Bit Digital (NASDAQ:BTBT) announced on Wednesday the acquisition of ~31,057 Ethereum using the net proceeds from a recently completed $150M convertible notes offering. Shares were +1.87% pre-market to $3.81. ETH-USD was trading at $4,490.91. The company had announced a $100M ...

Core Viewpoint - Energy Fuels Inc. plans to offer $550 million in Convertible Senior Notes due 2031 to enhance financial flexibility and fund various development projects [1][3]. Group 1: Convertible Notes Offering - The company intends to offer $550 million aggregate principal amount of Convertible Senior Notes in a private placement, with an option for initial purchasers to buy an additional $82.5 million [1]. - The notes will be general senior unsecured obligations, accruing interest payable semiannually, and will be convertible into cash, common shares, or a combination thereof [2]. Group 2: Use of Proceeds - Net proceeds from the offering will be used for capped call transactions, funding development expenditures for the Phase 2 rare earth separations circuit expansion at the White Mesa Mill, and general corporate needs [3]. - Additional proceeds from any exercised options will also be allocated for capped call transactions and general corporate purposes [3]. Group 3: Capped Call Transactions - Energy Fuels plans to enter into capped call transactions to reduce potential dilution of common shares upon conversion of the notes [4]. - These transactions will cover the number of common shares initially underlying the notes and are subject to anti-dilution adjustments [4]. Group 4: Market Impact - The initial hedging activities related to the capped call transactions may influence the market price of common shares and the trading price of the notes [5][6]. - The option counterparties may adjust their hedge positions, which could further affect the market price of common shares and the notes [6]. Group 5: Company Overview - Energy Fuels is a leading U.S. producer of uranium, rare earth elements, and critical minerals, operating several uranium projects and the only licensed conventional uranium processing facility in the U.S. [11]. - The company is also involved in developing heavy mineral sands projects in Madagascar, Brazil, and Australia, and is exploring the recovery of medical isotopes for cancer treatments [11].

Core Insights - Denison Mines Corp. (NYSE:DNN) has garnered significant interest from hedge funds, positioning it as one of the top 12 uranium stocks to consider for investment [1] Financial Developments - On August 15, 2025, Denison Mines closed a $345 million upsized convertible notes offering, securing net proceeds of approximately $333 million to further its Wheeler River uranium project. The offering features a 4.25% coupon and a capped call strategy, which saves over $100 million in interest while minimizing dilution risk [2] - National Bank raised its price target for Denison Mines from $4.40 to $4.57 on August 18, 2025, maintaining an 'Outperform' rating. This reflects a strengthened balance sheet and renewed analyst confidence as the company prepares for a final investment decision on its Phoenix ISR uranium mine [3] Company Overview - Denison Mines Corp. is a Canadian uranium mining and development company focused on advancing its Wheeler River Project located in Saskatchewan's Athabasca Basin, recognized as one of the best uranium stocks [4]

Core Viewpoint - Nebius Group N.V. intends to offer $2.0 billion in convertible senior notes, divided into two series, to enhance its financial position and support growth initiatives [1] Group 1: Offering Details - The offering consists of $1.0 billion in convertible notes due in 2030 and another $1.0 billion in convertible notes due in 2032 [1]

Core Viewpoint - enCore Energy Corp. has successfully closed a $115 million USD offering of senior unsecured convertible notes, providing the company with long-term capital and flexibility for future operations [2][3] Group 1: Corporate Update - The company will host a corporate update on August 27, 2025, covering current operations in South Texas, the expansion of the Alta Mesa project, and details regarding the recent convertible notes offering [1] Group 2: Convertible Notes Details - The convertible notes have a maturity date of August 15, 2030, and bear a cash interest rate of 5.50% [2][3] - The company has the option to pay the principal in cash, common shares, or a combination thereof upon investor conversions [3] - enCore retains the right to redeem the notes early, compelling conversion if the stock price exceeds $4.28 USD for 20 out of 30 trading days starting August 21, 2028 [3] Group 3: Capped-Call Arrangement - A private capped-call arrangement has been established with leading banks to minimize future dilution from the notes, raising the effective conversion premium from 127.5% to 175% above the closing price prior to the announcement [4] - This strategy allows the company to diversify its investor base and raise capital without immediate dilution until the stock price exceeds approximately $4.52 USD per share [4] Group 4: Company Overview - enCore Energy Corp. is focused 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 utilizes in-situ recovery (ISR) for uranium extraction, a proven technology co-developed by its leadership [6] - Future projects include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming, alongside other non-core assets [7]

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]

Core Viewpoint - TeraWulf Inc. has successfully completed the offering of 1.00% Convertible Senior Notes due 2031, raising a total of $1.0 billion, including an additional $150 million from the exercise of the greenshoe option [1][2][3] Group 1: Offering Details - The Convertible Notes were offered in a private placement to qualified institutional buyers under Rule 144A of the Securities Act of 1933 [2] - The total principal amount of Convertible Notes sold in the offering reached $1.0 billion, including the additional notes purchased [1][3] Group 2: Financial Proceeds - Net proceeds from the offering, after deducting discounts, commissions, and estimated expenses, amounted to approximately $975.2 million [3] - The company allocated $100.6 million of the net proceeds to fund capped call transactions, with the remaining proceeds directed towards data center expansion and general corporate purposes [3] Group 3: Capped Call Transactions - In connection with the additional notes, TeraWulf entered into capped call transactions with a cap price of $18.76, which is a 100% premium over the last reported sale price of its common stock [2]

Core Points - enCore Energy Corp. announced the pricing of $100 million aggregate principal amount of 5.50% Convertible Senior Notes due 2030, upsized from a previously announced $75 million offering [1][2] - The Convertible Notes will bear interest at an annual rate of 5.50%, payable semi-annually, and will mature on August 15, 2030 [2] - The initial conversion rate is 303.9976 common shares per $1,000 principal amount of notes, representing an initial conversion price of approximately $3.29 per common share, a premium of 27.5% over the last reported sale price of $2.58 [2][3] Offering Details - The offering includes a 13-day option for initial purchasers to buy up to an additional $15 million of Convertible Notes [1] - The net proceeds from the offering are estimated to be approximately $95.3 million, intended for capped call transactions, repayment of loan amounts, and general corporate purposes [5] - The capped call transactions are designed to reduce potential dilution to enCore's common shares upon conversion of the Convertible Notes [9][10] Redemption and Conversion - The Convertible Notes are redeemable at enCore's option starting August 21, 2028, if certain conditions are met [3] - Holders can require enCore to repurchase their Convertible Notes following certain corporate transactions that constitute a "fundamental change" [4] - The cap price for the capped call transactions is set at $4.52 per share, representing a 75% premium over the last reported sale price [8] Company Overview - enCore Energy Corp. is focused on providing clean, reliable, and affordable fuel for nuclear energy, utilizing in-situ recovery (ISR) for uranium extraction [14][15] - The company has multiple Central Processing Plants in operation and is planning future projects in South Dakota and Wyoming [15]

Core Viewpoint - Evolent Health, Inc. has announced the pricing of $145.0 million in 4.50% convertible senior notes due 2031, aimed at improving financial flexibility and reducing interest expenses while minimizing shareholder dilution [1][2][5]. Group 1: Transaction Details - The offering size was increased from $140.0 million to $145.0 million, with an additional option for initial purchasers to buy up to $21.75 million more [1]. - Evolent expects net proceeds of approximately $140.2 million, or $161.2 million if the additional notes option is fully exercised, which will be used primarily to repurchase existing convertible senior notes [5][7]. - The notes will mature on August 15, 2031, and interest will be paid semiannually at a rate of 4.50% [6]. Group 2: Conversion and Repurchase Terms - The notes are convertible at the option of the holders prior to maturity, with an initial conversion price of approximately $13.53 per share, representing a 50% premium over the closing price on August 18, 2025 [6]. - Evolent may terminate conversion rights under certain conditions related to the stock price performance [3]. - Holders can require Evolent to repurchase their notes upon a "fundamental change" at 100% of the principal amount plus accrued interest [4]. Group 3: Share Repurchase Impact - Evolent plans to repurchase approximately 4.43 million shares of its Class A common stock at a price of $9.02 per share, which may influence the market price of both the stock and the notes [8][9]. - The repurchase of shares sold short by initial investors could lead to increased market activity affecting the stock price [9]. Group 4: Company Overview - Evolent Health specializes in improving health outcomes for individuals with complex conditions and serves a national base of leading payers and providers [13].

Core Viewpoint - TeraWulf Inc. has announced an offering of $850 million in 1.00% Convertible Senior Notes due 2031, aimed at qualified institutional buyers, with the offering expected to close on August 20, 2025 [1][3]. Group 1: Transaction Details - The initial purchasers of the Convertible Notes have a 13-day option to purchase an additional $150 million [3]. - The expected net proceeds from the offering are approximately $828.7 million, or $975.2 million if the option is fully exercised [4]. - The Convertible Notes will accrue interest at a rate of 1.00% per annum, payable semi-annually, and will mature on September 1, 2031 [5]. Group 2: Use of Proceeds - Approximately $85.5 million of the net proceeds will be used for capped call transactions, with the remainder allocated for data center expansion and general corporate purposes [4]. Group 3: Convertible Notes Features - The initial conversion rate is set at 80.4602 shares per $1,000 principal amount, equating to an initial conversion price of approximately $12.43 per share, representing a 32.50% premium over the closing price of $9.38 on August 18, 2025 [6]. - The Company may redeem the Convertible Notes starting September 6, 2028, under specific conditions [7]. - Holders can require the Company to repurchase their Convertible Notes upon a fundamental change at a cash price of 100% of the principal amount plus accrued interest [10]. Group 4: Capped Call Transactions - The capped call transactions are designed to reduce potential dilution upon conversion of the Convertible Notes, with an initial cap price of $18.76 per share, representing a 100% premium over the last reported sale price [8][11]. - The Company expects to use part of the net proceeds from any additional Convertible Notes sold to enter into further capped call transactions [11]. Group 5: Company Overview - TeraWulf develops and operates environmentally sustainable, industrial-scale data center infrastructure in the U.S., focusing on high-performance computing and bitcoin mining [16].