Uranium Energy Corp closes $203 million public offering

CORPUS CHRISTI - Uranium Energy Corp (NYSE American:UEC), which has seen its stock surge over 213% in the past six months according to InvestingPro data, announced Monday the closing of its public offering of 15.5 million shares of common stock at $13.15 per share, raising gross proceeds of $203.8 million.

The company has granted the underwriter, Goldman Sachs & Co. LLC, a 30-day option to purchase up to an additional 2.3 million shares.

According to the press release statement, UEC plans to use the net proceeds to accelerate the development of a new American uranium refining and conversion facility through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp. (UR&C). Remaining funds will be allocated for general corporate and working capital purposes.

The offering was made through a prospectus and prospectus supplement that form part of a registration statement filed with the U.S. Securities and Exchange Commission, which became automatically effective upon filing on November 16, 2022.

UEC describes itself as America’s largest supplier of uranium for nuclear energy production. The company operates three ISR (in-situ recovery) hub-and-spoke platforms in South Texas and Wyoming, with operations recently restarted at the Christensen Ranch Project in Wyoming in August 2024.

The UR&C initiative aims to position UEC as a vertically integrated uranium company with mining, processing, refining, and conversion capabilities.

In other recent news, Uranium Energy Corp has announced the pricing of a public offering of 15.5 million shares of its common stock at $13.15 per share, raising approximately $204 million. The company has also granted the underwriter, Goldman Sachs & Co. LLC, a 30-day option to purchase up to an additional 2.325 million shares. The proceeds from this offering are intended to accelerate the development of a new American uranium refining and conversion facility through its subsidiary, United States Uranium Refining & Conversion Corp, as well as to support general corporate and working capital needs.

In analyst news, Stifel has initiated coverage on Uranium Energy with a Buy rating and set a price target of $10.50. The firm highlighted the company’s potential for near-term production growth from several fully permitted and past-producing in-situ recovery assets in the United States. Additionally, nuclear and uranium stocks experienced declines in premarket trading, following previous gains after comments from President Donald Trump about accelerating large power projects. Despite these fluctuations, Uranium Energy remains focused on its strategic growth initiatives.

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