Cantor Fitzgerald Canada, Haywood Securities, Roth Capital assist
By Devika Patel
Knoxville, Tenn., March 8 – Energy Fuels, Inc. priced a $10.5 million overnight public sale of units with a 15% greenshoe, according to an 8-K filing with the Securities and Exchange Commission.
The company will sell 4,375,000 units of one common share and one half-share warrant at $2.40 per unit, with the whole warrant exercisable at $3.20 for three years. The strike price is an 8.11% premium to the March 7 closing share price of $2.96.
Cantor Fitzgerald Canada Corp., Haywood Securities Inc. and Roth Capital Partners, LLC are the bookrunners.
Settlement is expected March 14.
Proceeds will be used for wellfield construction at the Nichols Ranch Project in Wyoming, shaft sinking and evaluation at the Canyon mine project in Arizona, the planned acquisition of Mestena Uranium, LLC, the acquisition of the remaining 40% of the Roca Honda Project, general corporate needs and working capital requirements.
Toronto-based Energy Fuels is a uranium and vanadium exploration and production company.
| Issuer: | Energy Fuels, Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $10.5 million
|
| Greenshoe: | $1,575,000
|
| Units: | 4,375,000
|
| Price: | $2.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $3.20
|
| Bookrunners: | Cantor Fitzgerald Canada Corp., Haywood Securities Inc. and Roth Capital Partners, LLC
|
| Pricing date: | March 8
|
| Settlement date: | March 14
|
| Stock symbol: | NYSE: UUUU
|
| Stock price: | $2.96 at close March 7
|
| Market capitalization: | $121.37 million
|
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