Company sells equity units through lead underwriter Haywood Securities
By Devika Patel
Knoxville, Tenn., Aug. 27 - Uranerz Energy Corp. priced a $10 million public offering of units, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission.
The company will sell 8.55 million units of one common share and one half-share warrant at $1.17 per unit, with each whole warrant exercisable at $1.60 for 30 months. The strike price is a 26.98% premium to the Aug. 26 closing share price of $1.26.
Haywood Securities Inc. is the lead underwriter, and Laurentian Bank Securities Inc., Cantor Fitzgerald Canada Corp., Dundee Securities Ltd. and Global Hunter Securities LLC are also underwriters.
Settlement is expected Sept. 6.
Proceeds will be used to develop mining facilities at the Nichols Ranch ISR Project, for working capital requirements and other general corporate purposes.
Vancouver, B.C.-based Uranerz mines for uranium in the Powder River Basin area of Wyoming.
| Issuer: | Uranerz Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $10,003,500
|
| Units: | 8.55 million
|
| Price: | $1.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 30 months
|
| Warrant strike price: | $1.60
|
| Underwriters: | Haywood Securities Inc. (lead), Laurentian Bank Securities Inc., Cantor Fitzgerald Canada Corp., Dundee Securities Ltd. and Global Hunter Securities LLC
|
| Pricing date: | Aug. 27
|
| Settlement date: | Sept. 6
|
| Stock symbol: | NYSE: URZ
|
| Stock price: | $1.26 at close Aug. 26
|
| Market capitalization: | $87.26 million
|
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