Ur-Energy Secures $120 Million Through Convertible Senior Notes Offering

Ur-Energy Inc. has successfully closed a $120 million offering of 4.75% Convertible Senior Notes due 2031. The offering, sold via private placement, included the full exercise of the option to purchase an additional $20 million in notes. Cantor Fitzgerald & Co. spearheaded the transaction, with B. Riley Securities, Inc. and H.C. Wainwright & Co., LLC acting as co-managers.

The notes are structured to offer financial flexibility, with no restrictive covenants, and conversion features that align with long-term shareholder interests. Proceeds will be used to enhance production at the Lost Creek mine and finalize construction at Shirley Basin. The transaction was favorably received by investors, indicating confidence in Ur-Energy's strategy and growth outlook. The notes will mature in 2031, unless earlier converted or redeemed.