LITTLETON, CO – December 11, 2025 – Ur-Energy Inc. (NYSE American: URG; TSX: URE), a leading uranium producer, today announced it has priced a $100 million private placement of convertible senior notes to fund project development and corporate activities.
Key Deal Terms:
- Instrument: 4.75% Convertible Senior Notes due 2031.
- Total Offering: $100 million aggregate principal amount, with an option for initial purchasers to buy an additional $20 million within 13 days.
- Expected Net Proceeds: Approximately $95.5 million (or $114.8 million if the option is fully exercised).
- Use of Proceeds:
- To fund capped call transactions (cost: ~$13.9-$16.6 million) designed to offset potential shareholder dilution upon note conversion.
- For project development and general corporate purposes.
Strategic Financial Structure:
The notes feature a conversion price of approximately $1.73 per share, representing a 27.5% premium over Ur-Energy's share price on December 10, 2025. Concurrently, the company entered into capped call agreements with a $2.72 cap price (a 100% premium), which are intended to minimize economic dilution up to that share price level.
Corporate Context:
Ur-Energy operates the Lost Creek uranium facility in Wyoming and is advancing its second site, Shirley Basin. This opportunistic capital raise strengthens the company's balance sheet to support its development pipeline in the uranium sector.
Important Notes:
The offering, made to qualified institutional buyers, is expected to close on December 15, 2025, subject to customary conditions. The notes and any shares issuable upon conversion have not been registered under U.S. securities laws and may not be offered or sold in the United States absent registration or an applicable exemption.