Uranium Energy Corp. Launches $225M Offering to Build U.S. Uranium Refining Facility
Uranium Energy Corp. (NYSE American: UEC), the largest and fastest-growing U.S. uranium supplier, has kicked off a public offering of 15,500,000 shares. The sole underwriter is Goldman Sachs & Co. LLC.
Proceeds will primarily fund the development of a new, state-of-the-art uranium refining and conversion facility through UEC's subsidiary, United States Uranium Refining & Conversion Corp. (UR&C). This initiative aims to make UEC the only vertically integrated U.S. uranium company, with capabilities spanning mining, processing, refining, and conversion.
Operations at the Christensen Ranch Project in Wyoming have resumed, with uranium-loaded resin now being sent to the Irigaray Plant. UEC boasts three in-situ recovery (ISR) hub-and-spoke platforms in South Texas and Wyoming, with seven major permits already secured.
The remaining funds will go towards general corporate and working capital purposes. UEC's diversified uranium portfolio includes a significant physical uranium portfolio, a major equity stake in Uranium Royalty Corp., and resource-stage uranium projects in the Western Hemisphere.
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