By Adriano Marchese
Uranium Royalty said Tuesday that it plans to raise $30 million by way of a bought-deal financing to fund its growth.
The dual-listed uranium-focused royalty and streaming company said that it has entered into an agreement with a syndicate of underwriters for them to purchase 10.2 million shares on a bought-deal basis.
The shares will be bought at a price of $2.94 apiece. On Monday, shares closed at $3.13 on the Nasdaq, up about 32% since the beginning of the year, and up more than 44% over the last 12 months.
Uranium Royalty said that it plans to use the new money for future purchases of physical uranium and to implement its growth strategy through future acquisitions of royalties and streams.
The company has also granted the underwriters an option to purchase up to an additional 15% of the offering to cover over-allotments if any.
Write to Adriano Marchese at [email protected]
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