Aspire Capital deal spans 30 months; shares sold in $300,000 tranches
By Devika Patel
Knoxville, Tenn., April 11 – Uranium Resources Inc. negotiated a $12 million 30-month common stock purchase agreement with Aspire Capital Fund, LLC on April 8, according to an 8-K filed Monday with the Securities and Exchange Commission.
The investor will buy company shares in tranches of up to 75,000 common shares or $300,000. The shares will be sold at a price equal to the lower of the lowest sale price of the stock on the purchase date or the arithmetic average of the three lowest closing sale prices of the stock during the 12 consecutive trading days preceding the purchase date. The stock may not be sold at any time when the company’s share price is less than $0.50.
Uranium Resources, based in Lewisville, Texas, is an exploration company focused on uranium.
| Issuer: | Uranium Resources Inc.
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| Issue: | Common stock purchase agreement
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| Amount: | $12 million
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| Tenor: | 30 months
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| Warrants: | No
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| Investor: | Aspire Capital Fund, LLC
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| Settlement date: | April 8
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| Stock symbol: | Nasdaq: URRE
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| Stock price: | $2.36 at close April 7
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| Market capitalization: | $10.8 million
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