Ur-Energy Inc. Announces Pricing of Public Offering of Common Shares
Ur-Energy Inc. (NYSE American:URG)(TSX:URE) has announced the pricing of its underwritten public offering of 57,150,000 common shares at $1.05 per share. The company expects to raise approximately $60.0 million in gross proceeds, before deducting underwriting discounts, commissions, and other expenses. Ur-Energy has granted underwriters a 30-day option to purchase up to 8,572,500 additional shares on the same terms. The offering is set to close around July 29, 2024. Cantor is acting as the sole book-running manager, with several co-managers. The company plans to use the net proceeds for working capital, Lost Creek ramp-up, Shirley Basin development, potential acquisitions, and general corporate purposes.
Ur-Energy Inc. (NYSE American: URG) (TSX: URE) ha annunciato il prezzo della sua offerta pubblica sottoscritta di 57.150.000 azioni ordinarie a 1,05 $ per azione. L'azienda prevede di raccogliere circa 60,0 milioni di dollari in proventi lordi, prima di dedurre sconti di sottoscrizione, commissioni e altre spese. Ur-Energy ha concesso agli underwriter un'opzione di 30 giorni per acquistare fino a 8.572.500 azioni aggiuntive alle stesse condizioni. L'offerta dovrebbe concludersi intorno al 29 luglio 2024. Cantor funge da unico responsabile del libro, con diversi co-manager. L'azienda prevede di utilizzare i proventi netti per capitale circolante, aumento della produzione di Lost Creek, sviluppo di Shirley Basin, potenziali acquisizioni e scopi aziendali generali.
Ur-Energy Inc. (NYSE American: URG) (TSX: URE) ha anunciado el precio de su oferta pública respaldada de 57.150.000 acciones comunes a 1,05 $ por acción. La compañía espera recaudar aproximadamente 60,0 millones de dólares en ingresos brutos, antes de deducir descuentos de suscripción, comisiones y otros gastos. Ur-Energy ha otorgado a los suscriptores una opción de 30 días para comprar hasta 8.572.500 acciones adicionales en las mismas condiciones. Se espera que la oferta cierre alrededor del 29 de julio de 2024. Cantor actúa como el único gerente de libro, con varios co-gerentes. La compañía planea utilizar los ingresos netos para capital de trabajo, aumento de producción en Lost Creek, desarrollo de Shirley Basin, adquisiciones potenciales y propósitos corporativos generales.
Ur-Energy Inc. (NYSE American: URG) (TSX: URE)는 인수된 공개 발행의 가격을 57,150,000주에 주당 1.05달러로 발표했습니다. 이 회사는 인수 수수료, 보수 및 기타 비용을 공제하기 전 6000만 달러의 총 수익을 올릴 것으로 예상하고 있습니다. Ur-Energy는 인수자에게 동일한 조건으로 최대 8,572,500주의 추가 구매 옵션을 30일 동안 부여했습니다. 이 발행은 2024년 7월 29일경에 마감될 예정입니다. Cantor는 단독 북관리에 나서며, 여러 공동 관리자를 두고 있습니다. 이 회사는 순수익을 운영 자본, Lost Creek 증가 생산, Shirley Basin 개발, 잠재적 인수 및 일반 기업 목적에 사용할 계획입니다.
Ur-Energy Inc. (NYSE American: URG) (TSX: URE) a annoncé le prix de son offre publique souscrite de 57 150 000 actions ordinaires à 1,05 $ par action. L'entreprise s'attend à lever environ 60,0 millions de dollars de recettes brutes, avant de déduire les réductions de souscription, les commissions et autres frais. Ur-Energy a accordé aux souscripteurs une option de 30 jours pour acheter jusqu'à 8 572 500 actions supplémentaires dans les mêmes conditions. L'offre devrait se clôturer aux alentours du 29 juillet 2024. Cantor agit en tant que seul gestionnaire de livre, avec plusieurs co-managers. La société prévoit d'utiliser les produits nets pour le fonds de roulement, l'augmentation de la production de Lost Creek, le développement de Shirley Basin, des acquisitions potentielles et des fins corporatives générales.
Ur-Energy Inc. (NYSE American: URG) (TSX: URE) hat die Preisgestaltung für ihr unterstütztes öffentliches Angebot von 57.150.000 Stammaktien zu 1,05 $ pro Aktie bekannt gegeben. Das Unternehmen erwartet, etwa 60,0 Millionen Dollar an Bruttoeinnahmen zu erzielen, bevor Unterzeichnungspreise, Provisionen und andere Kosten abgezogen werden. Ur-Energy hat den Underwritern eine 30-tägige Option eingeräumt, bis zu 8.572.500 zusätzliche Aktien zu denselben Bedingungen zu erwerben. Das Angebot soll voraussichtlich um den 29. Juli 2024 abgeschlossen werden. Cantor fungiert als alleiniger Buchführer, mit mehreren Co-Managern. Das Unternehmen plant, die Nettoerlöse für Betriebskapital, Produktionserhöhung von Lost Creek, Entwicklung des Shirley Basin, potenzielle Akquisitionen und allgemeine Unternehmenszwecke zu verwenden.
- Raising approximately $60 million in gross proceeds through public offering
- Funds to be used for working capital and development of key projects
- Potential for additional capital if underwriters exercise their option
- Dilution of existing shareholders' ownership due to new share issuance
- Increased outstanding shares may put downward pressure on stock price
Ur-Energy's $60 million public offering of common shares is a significant capital raise that warrants attention. The pricing at
The use of proceeds for working capital, project development and potential acquisitions suggests a strategic move to strengthen Ur-Energy's position in the uranium market. The company's focus on ramping up Lost Creek and developing Shirley Basin indicates a push towards increased production capacity, likely in anticipation of improving uranium market conditions.
However, investors should note that this dilution comes at a time when uranium prices have been volatile. The success of this capital raise will largely depend on Ur-Energy's ability to effectively deploy the funds and capitalize on potential market improvements. The involvement of multiple co-managers in the offering suggests broad market interest, which could be seen as a positive signal for the uranium sector as a whole.
Ur-Energy's public offering comes at an interesting juncture in the uranium market. Global efforts to reduce carbon emissions have led to increased interest in nuclear energy, potentially driving long-term demand for uranium. However, the market has been characterized by oversupply and low prices in recent years, making it challenging for producers.
The company's decision to raise capital now could be interpreted as a strategic move to position itself for an anticipated market upturn. The
Investors should consider the broader market dynamics, including potential supply constraints from major producers and increasing global interest in nuclear energy as a clean power source. While the dilution is significant, if Ur-Energy can successfully expand production and potentially make strategic acquisitions, it could emerge as a stronger player in a recovering uranium market.
However, the risks are also substantial. If uranium prices remain depressed or if the anticipated market recovery doesn't materialize as quickly as expected, Ur-Energy may struggle to generate returns on this investment, potentially leading to further dilution in the future.
LITTLETON, CO / ACCESSWIRE / July 26, 2024 / Ur-Energy Inc. (NYSE American:URG)(TSX:URE) ("Ur‑Energy") announced today the pricing of its underwritten public offering of 57,150,000 common shares, at a public offering price of
Cantor is acting as the sole book-running manager for the offering.
A.G.P./Alliance Global Partners LLC; H.C. Wainwright & Co.; Roth Capital Partners; and Ventum Financial Corp. are acting as co-managers for the offering.
Ur-Energy anticipates using the net proceeds from the offering to supplement working capital for the continued ramp-up at Lost Creek, to support development at Shirley Basin, for possible future acquisitions or other strategic transactions and for working capital and general corporate purposes, although its management will have broad discretion in the application of the net proceeds of the offering. Ur-Energy frequently evaluates acquisition opportunities to expand its portfolio of uranium projects.
The common shares described above are being offered by Ur-Energy pursuant to a shelf registration statement on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on July 19, 2023. A preliminary prospectus supplement and the accompanying prospectus relating to the common shares being offered have been filed with the SEC on July 25, 2024 and are available on the SEC's website at http://www.sec.gov. A final prospectus supplement will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement (when available) and accompanying prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by e-mail at prospectus@cantor.com.
This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of the common shares and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale is unlawful. Offers will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.
About Ur-Energy:
Ur-Energy is a uranium mining company operating the Lost Creek in situ recovery uranium facility in south-central Wyoming. Ur-Energy has produced and packaged approximately 2.7 million pounds U3O8 from Lost Creek since the commencement of operations. Ur-Energy has all major permits and authorizations to begin construction at Shirley Basin, its second in situ recovery uranium facility in Wyoming and is advancing Shirley Basin construction and development following its March 2024 ‘go' decision for construction of the mine. Ur-Energy awaits the remaining regulatory authorization for the expansion of Lost Creek. Ur‑Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development, and operation of uranium mineral properties in the United States. The primary trading market for Ur‑Energy's common shares is on the NYSE American under the symbol "URG." Ur‑Energy's common shares also trade on the Toronto Stock Exchange under the symbol "URE." Ur-Energy's corporate office is in Littleton, Colorado and its registered office is in Ottawa, Ontario.
Cautionary Note Regarding Forward-Looking Statements:
This release may contain "forward-looking statements" within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., closing date of the offering and the use of proceeds from the offering) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, satisfaction of the conditions to closing of the offering, delays in obtaining required stock exchange or other regulatory approvals, commodity price volatility, the impact of general business and economic conditions, as well as other factors described in the public filings made by Ur-Energy at www.sec.gov and www.sedarplus.ca. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management's beliefs, expectations or opinions that occur in the future.
For further information, please contact:
John W. Cash, Chairman, CEO and President
+1 720-981-4588, ext. 303
John.Cash@Ur-Energy.com
SOURCE: Ur-Energy Inc.
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