Ur-Energy Prices $100 Million Convertible Senior Notes Offering

Ur-Energy Inc. announced the pricing of a $100 million offering of 4.75% Convertible Senior Notes due in 2031. The private placement targets qualified institutional buyers under Rule 144A of the Securities Act. The notes can be converted into cash or shares at Ur-Energy's discretion, starting with a conversion rate of 576.7013 shares per $1,000 principal.

The proceeds, estimated at $95.5 million, will fund project development and general corporate purposes. A portion will also cover capped call transactions to mitigate potential dilution. Additional notes of up to $20 million may be issued.

The notes are scheduled to accrue semiannual interest starting July 2026, with conditions for early conversion or redemption from January 2029. Ur-Energy also entered into capped call transactions to stabilize conversion costs and potential share dilution.