Key Points Energy Fuels is raising debt to fund expansions of its uranium and rare earth projects. While that could dilute shareholders' wealth later, Energy Fuels wants to prevent significant dilution. 10 stocks we like better than Energy Fuels › Is the fire in Energy Fuels (NYSEMKT: UUUU) about to die? The uranium stock, which gained a jaw-dropping 222% this year until yesterday's market close, dropped 10.2% early this morning. Energy Fuels is planning to raise debt, but is that necessarily a ba ...

Cipher Mining(NASDAQ:CIFR) today announced the pricing of its offering of $1.1 billion aggregate principal amount of 0.00% convertible senior notes due 2031. Cipher intends to use the fund to finance data center construction and HPC strategy. https://t.co/HoiG8kqOIp ...

Core Viewpoint - Cohu, Inc. plans to offer $200 million in convertible senior notes due 2031 in a private offering aimed at qualified institutional buyers [1] Company Summary - Cohu, Inc. is a global supplier of equipment and services that enhance semiconductor manufacturing yield and productivity [1]

Core Viewpoint - Camtek Ltd. has announced a private offering of $425 million in 0.00% Convertible Senior Notes due 2030, which was increased from a previously planned $400 million offering, with an option for initial purchasers to buy an additional $75 million [1][7]. Group 1: Offering Details - The Notes will mature on September 15, 2030, and will not bear regular interest, with no accretion of the principal amount [2]. - The initial conversion rate is set at 9.1455 ordinary shares per $1,000 principal amount, translating to an initial conversion price of approximately $109.34 per share, representing a 30.0% premium over the last reported sale price on September 11, 2025 [3]. - Camtek may redeem the Notes under specific conditions, including tax-related events or if the share price exceeds 130% of the conversion price for a specified period [4]. Group 2: Repurchase and Use of Proceeds - The company intends to use the net proceeds to repurchase approximately $167.1 million of its 0% senior convertible notes due 2026 for about $267.0 million in cash, with the remainder allocated for general corporate purposes, including potential acquisitions and research and development [7]. - Holders of the Notes may require Camtek to repurchase their Notes for cash if certain corporate events occur, with the repurchase price equal to 100% of the principal amount plus any accrued interest [5]. Group 3: Company Overview - Camtek is a developer and manufacturer of high-end inspection and metrology equipment for the semiconductor industry, serving leading global IDMs, OSATs, and foundries [10]. - The company operates manufacturing facilities in Israel and Germany, with a focus on advanced semiconductor market segments [10].

Core Viewpoint - Enovix Corporation has announced a private placement of $300 million in 4.75% Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $60 million in notes, aimed at funding corporate purposes and potential acquisitions [1][2][4]. Group 1: Offering Details - The offering consists of $300 million aggregate principal amount of 4.75% Convertible Senior Notes due 2030, expected to close on September 15, 2025 [1][2]. - The notes will accrue interest at a rate of 4.75% per year, payable semiannually starting March 15, 2026, and will mature on September 15, 2030 [3]. - Enovix estimates net proceeds from the offering to be approximately $290.4 million, or $348.6 million if the additional notes option is fully exercised [4]. Group 2: Use of Proceeds - Approximately $37.7 million of the net proceeds will be allocated to capped call transactions, with the remainder intended for general corporate purposes, including potential acquisitions [4]. - The company is evaluating potential acquisition targets in the battery ecosystem that could enhance market adoption of its technology, although no commitments currently exist [4]. Group 3: Conversion and Redemption Terms - The notes are convertible into cash, shares of Enovix common stock, or a combination thereof, with an initial conversion rate of 89.2160 shares per $1,000 principal amount, representing a conversion price of approximately $11.21 per share [5]. - Enovix may redeem the notes starting September 20, 2028, under certain conditions, at a redemption price equal to 100% of the principal amount plus accrued interest [6]. Group 4: Capped Call Transactions - Enovix has entered into capped call transactions to offset potential dilution from the notes, with cap prices set at various levels over the next 36 months [9][10]. - The capped call transactions are designed to mitigate the dilutive impact of the notes, although they will not fully offset the actual dilution upon conversion [9][10]. Group 5: Market Impact - The establishment of hedges related to the capped call transactions may influence the market price of Enovix common stock and the trading price of the notes [11][12].

Core Viewpoint - Nova intends to offer $500 million of 0.00% Convertible Senior Notes due 2030 in a private offering to qualified institutional buyers, with an option for an additional $75 million [1][2] Group 1: Offering Details - The Notes will be senior, unsecured obligations of Nova, maturing on September 15, 2030, and will not bear regular interest [2] - The initial conversion price and other terms will be determined at the time of pricing [2] - The Notes will be convertible into cash, ordinary shares, or a combination thereof, with the form of consideration determined at Nova's election [2] Group 2: Redemption and Repurchase - Nova may redeem the Notes under certain conditions, including tax-related events and if the share price exceeds 130% of the conversion price for a specified period [3] - In the event of a 'fundamental change,' noteholders may require Nova to repurchase their Notes for cash at the principal amount plus any accrued interest [4] Group 3: Capped Call Transactions - Nova plans to enter into capped call transactions to cover the number of shares underlying the Notes, which will help reduce potential dilution upon conversion [5] - The Option Counterparties may engage in derivative transactions that could affect the market price of Nova's ordinary shares and the Notes [6][7] Group 4: Use of Proceeds - A portion of the net proceeds from the Offering will be used to pay for capped call transactions, with the remainder allocated for general corporate purposes, including potential mergers and acquisitions [8] Group 5: Company Overview - Nova is a leading provider of advanced metrology and process control solutions in semiconductor manufacturing, delivering high-performance solutions for effective process control [11] - The company is traded on Nasdaq under the ticker symbol NVMI [12]

Core Viewpoint - Euronet Worldwide, Inc. has announced the pricing of $850 million in 0.625% Convertible Senior Notes due 2030, aimed at qualified institutional buyers, with an option for initial purchasers to buy an additional $150 million [1][2]. Group 1: Offering Details - The offering is expected to close on August 15, 2025, subject to customary closing conditions [2]. - The notes will bear interest at a rate of 0.625% per year, payable semiannually starting April 1, 2026, and will mature on October 1, 2030 [3]. - Euronet intends to use the net proceeds to repay existing borrowings under its unsecured revolving credit facility and for general corporate purposes [4]. Group 2: Conversion and Redemption - The notes are convertible at the option of the holders under certain circumstances, with an initial conversion rate of 7.8718 shares per $1,000 principal amount, equating to a conversion price of approximately $127.04 per share, representing a 30% premium over the last reported sale price of $97.72 [5]. - Euronet may redeem the notes starting October 7, 2028, if certain stock price conditions are met [6]. Group 3: Fundamental Change and Capped Call Transactions - In the event of a "fundamental change," holders may require Euronet to repurchase their notes at 100% of the principal amount plus accrued interest [7]. - Euronet has entered into capped call transactions to reduce potential dilution upon conversion of the notes, with an initial cap price of approximately $180.78 per share, an 85% premium over the last reported sale price [9]. Group 4: Share Repurchases - Euronet plans to use approximately $131.3 million of cash on hand to repurchase shares of its common stock concurrently with the pricing of the offering [12].

Core Viewpoint - Intuitive Machines, Inc. plans to offer $250 million in convertible senior notes due 2030, with an option for an additional $37.5 million, to qualified institutional buyers, aiming to support its operations and potential acquisitions [1][3]. Group 1: Notes Offering Details - The convertible senior notes will be senior, unsecured obligations, accruing interest at an annual rate, payable semiannually starting April 1, 2026, and maturing on October 1, 2030 [2]. - The notes will be convertible into cash, shares of Class A common stock, or a combination thereof, with specific terms to be determined at pricing [2]. Group 2: Use of Proceeds - A portion of the net proceeds from the notes offering will be used for capped call transactions, while the remaining funds will support general corporate purposes, including operations, research and development, and potential acquisitions [3]. - If the option for additional notes is exercised, proceeds will similarly be allocated for capped call transactions and general corporate purposes [3]. Group 3: Capped Call Transactions - Intuitive Machines expects to enter into capped call transactions to reduce potential dilution of its Class A common stock upon conversion of the notes [4]. - These transactions are designed to offset cash payments required in excess of the principal amount of converted notes, subject to a cap [4]. Group 4: Market Impact - The initial purchasers of the notes may engage in derivative transactions or purchase shares of Class A common stock, which could influence the market price of the stock and the notes [5][6]. - Such activities may affect the conversion process and the number of shares received by noteholders upon conversion [6]. Group 5: Company Overview - Intuitive Machines is a diversified space technology company focused on lunar access economics, having successfully landed its Nova-C class lunar lander on the Moon in 2024 and returned in 2025 [10]. - The company operates through three pillars: Delivery Services, Data Transmission Services, and Infrastructure as a Service [10].

Core Viewpoint - ARRAY Technologies, Inc. successfully closed a private offering of $345 million in convertible senior notes, aimed at strengthening its capital structure and enhancing financial flexibility for long-term growth [1][2]. Group 1: Offering Details - The offering consisted of $345 million aggregate principal amount of 2.875% convertible senior notes due July 2031, sold only to qualified institutional buyers [1]. - The net proceeds from the offering were approximately $334.1 million after deducting discounts and estimated expenses [2][6]. Group 2: Financial Management - The company plans to use the proceeds to fully repay approximately $232.8 million of outstanding indebtedness under its term loan facility [2][6]. - Approximately $35.1 million of the net proceeds will fund the cost of entering into capped call transactions, while about $78.3 million will be used to repurchase $100 million in aggregate principal amount of its outstanding 1.00% Convertible Senior Notes due 2028 [2][6]. Group 3: Impact on Shareholders - The refinancing of higher-cost debt and proactive management of the debt maturity profile is expected to minimize potential dilution for shareholders [2]. - Total annual net interest expense savings from these transactions is anticipated to be approximately $9 million, enhancing free cash flow generation [4]. Group 4: Capped Call Transactions - The capped call transactions are designed to reduce potential dilution upon conversion of the notes, with an initial cap of $12.74 per share and an initial strike price of $8.12 per share [3].

Core Viewpoint - Golar LNG Limited has announced the pricing of $500 million in 2.75% Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $75 million, expected to close on June 30, 2025 [1][5]. Group 1: Notes Details - The Notes will bear interest at 2.75% per annum, payable semi-annually starting December 15, 2025, and maturing on December 15, 2030 [2]. - The initial conversion rate is set at 17.3834 common shares per $1,000 principal amount, equating to an initial conversion price of approximately $57.53 per share, representing a 40% premium over the average share price of $41.09 on June 25, 2025 [2]. - The Notes are redeemable at the company's option starting December 20, 2028, if the common shares' price exceeds 130% of the conversion price for a specified period [3]. Group 2: Fundamental Change and Use of Proceeds - In the event of a fundamental change, holders can require the company to purchase the Notes at a price equal to 100% of the principal amount plus accrued interest [4]. - The net proceeds from the sale of the Notes will be used to repurchase 2.5 million common shares and for general corporate purposes, including potential growth investments and repaying debt [5].