Uranium Energy Corp raises $30.6 million through over-allotment

CORPUS CHRISTI, Texas - Uranium Energy Corp (NYSE American:UEC), now valued at $6.6 billion and trading near its 52-week high of $15.05, announced Thursday that underwriters have exercised their option to purchase an additional 2,325,000 shares of common stock at $13.15 per share, generating gross proceeds of $30.57 million. According to InvestingPro data, the stock has delivered an impressive 217% return over the past six months.

This transaction follows the company’s previously announced public offering of 15,500,000 shares at the same price. Goldman Sachs & Co. LLC served as the sole underwriter for the offering.

UEC plans to use the net proceeds to accelerate development of a new American uranium refining and conversion facility through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp., as well as 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.

Uranium Energy Corp describes itself as America’s largest and fastest growing supplier of uranium for nuclear energy production. The company operates ISR (in-situ recovery) mining platforms in South Texas and Wyoming, with operations recently restarted at its Christensen Ranch Project in Wyoming.

The company’s portfolio includes physical uranium holdings, a stake in Uranium Royalty Corp., and resource-stage uranium projects throughout the Western Hemisphere. Through its UR&C initiative, UEC aims to position itself as the only vertically integrated U.S. uranium company with mining, processing, and planned refining capabilities.

The announcement was made in a press release issued by the company.

In other recent news, Uranium Energy Corp announced the successful closing of its public offering, raising approximately $203.8 million through the sale of 15.5 million shares at $13.15 each. The company has also provided Goldman Sachs & Co. LLC with a 30-day option to purchase an additional 2.3 million shares. Stifel initiated coverage on Uranium Energy with a Buy rating and set a price target of $10.50, citing the company’s near-term production growth potential from its U.S.-based assets. The offering’s pricing was previously announced, with the expectation to close on October 6, 2025, subject to customary conditions. The funds raised are intended to accelerate the development of a new uranium refining and conversion facility through its subsidiary, United States Uranium Refining & Conversion Corp. Remaining proceeds will be allocated to general corporate and working capital needs. These developments mark significant steps for Uranium Energy Corp in its strategic growth initiatives.

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