Cantor Fitzgerald Canada and Rodman & Renshaw are the bookrunners
By Devika Patel
Knoxville, Tenn., Sept. 15 – Energy Fuels, Inc. priced a $13.05 million public sale of units with a $1.96 million greenshoe, according to an FWP filing with the Securities and Exchange Commission. The deal priced on Wednesday for $10 million with a $1.5 million greenshoe and was increased on Thursday.
The company will sell 7.25 million units of one common share and one half-share warrant at $1.80 per unit, with the whole warrant exercisable at $2.45 for five years. The strike price is an 8.41% premium to the Sept. 13 closing share price of $2.26.
Cantor Fitzgerald Canada Corp. and Rodman & Renshaw are the co-lead underwriters and bookrunners.
Settlement is expected Sept. 20.
Proceeds will be used for shaft sinking and evaluation at the Canyon mine project in Arizona, wellfield construction at the Nichols Ranch Project in Wyoming, permitting of projects, including Roca Honda and Jane Dough; to repay principal on debt and for 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: | $13.05 million
|
| Greenshoe: | $1,957,500, or 1,087,500 units
|
| Units: | 7.25 million
|
| Price: | $1.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.45
|
| Underwriters: | Cantor Fitzgerald Canada Corp. and Rodman & Renshaw (co-leads), Haywood Securities Inc., Raymond James Ltd. and Dundee Securities Ltd.
|
| Pricing date: | Sept. 14
|
| Upsized: | Sept. 15
|
| Settlement date: | Sept. 20
|
| Stock symbol: | NYSE: UUUU
|
| Stock price: | $2.26 at close Sept. 13
|
| Market capitalization: | $130.92 million
|
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