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UEC

UEC Raises $203.8M in Public Offering

Uranium Energy Corp (NYSE American: UEC) has closed a public offering of 15,500,000 shares of common stock at a price of $13.15 per share, resulting in gross proceeds of $203,825,000. The underwriter has been granted a 30-day option to purchase up to an additional 2,325,000 shares of common stock.

The net proceeds from the offering will be used to accelerate the development of a new uranium refining and conversion facility through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp. ("UR&C"), as well as for general corporate and working capital purposes.

Goldman Sachs & Co. LLC acted as the sole underwriter for the offering.

As of August 2024, operations were restarted and ramp-up commenced at the Christensen Ranch project in Wyoming, with uranium-loaded resin being sent to the Irigaray plant. Additionally, the company holds one of the largest physical uranium portfolios of U.S. warehoused U3O8, a major equity stake in Uranium Royalty Corp., and a pipeline of resource stage uranium projects in the Western Hemisphere.

The company's UR&C initiative aims to position UEC as the only vertically integrated U.S. uranium company with mining and processing operations and planned refining and conversion capabilities. The company's operations are managed by professionals with decades of hands-on experience in uranium exploration, development, and mining. Today the company's shares have moved -1.21% to a price of $13.05. For more information, read the company's full 8-K submission here.

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