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Denison Mines Announces Offering of US$250 Million of Convertible Senior Notes
TORONTO, Aug. 12, 2025 /CNW/ - Denison Mines Corp. (TSX: DML) (NYSE AMERICAN: DNN) ("Denison" or the "Company") announces that it is offering convertible senior
About this update from Denison Mines Corp.
[{"type":"text","content":" TORONTO, Aug. 12, 2025 /CNW/ - Denison Mines Corp. (TSX: DML) (NYSE AMERICAN: DNN) (\"Denison\" or the \"Company\") announces that it is offering convertible senior unsecured notes due 2031 (the \"Notes\") in an aggregate principal amount of US$250 million (the \"Offering\"). The Company expects to grant the initial purchasers of the Notes an option for a period of 13 days, beginning on, and including the date on which the Notes are first issued, to purchase up to an additional US$37.5 million aggregate principal amount of Notes. The Company intends to use the net proceeds from the Offering for expenditures to support the evaluation and development of the Company's uranium development projects, including the Wheeler River Uranium Project and general corporate purposes. Additionally, the Company intends to pay the purchase price for the capped call transactions described below with a portion of the net proceeds from the Offering or from existing cash on hand. The Notes will be senior unsecured obligations of the Company and will accrue interest at a rate payable semi-annually in arrears on March 15 and September 15 of each year, beginning on March 15, 2026 and will be convertible into common shares of the Company (the \"Shares\"), cash or a combination of Shares and cash, at the Company's election. The Notes will mature on September 15, 2031, unless earlier repurchased, redeemed or converted in accordance with their terms. Prior to June 15, 2031, the Notes will be convertible only upon satisfaction of certain conditions and during certain periods, and thereafter, the Notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The interest rate, the initial conversion rate and other terms of the Notes will be determined by Denison and the initial purchasers and will depend on market conditions at the time of pricing of the Offering. Denison will have the right to redeem the Notes in certain circumstances and holders will have the right to require Denison to repurchase their Notes upon the occurrence of certain events. In connection with the Offering, Denison expects to enter into privately negotiated cash-settled capped call transactions with one or more of the initial purchasers of the Notes, their respective affiliates and/or other financial...