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Denison Mines Announces Pricing of Upsized US$300 Million Convertible Senior Notes Offering
TORONTO, Aug. 13, 2025 /CNW/ - Denison Mines Corp. (TSX: DML)(NYSE AMERICAN: DNN) ("Denison" or the "Company") announces that, on August 12, 2025, it upsized an
About this update from Denison Mines Corp.
[{"type":"text","content":" TORONTO, Aug. 13, 2025 /CNW/ - Denison Mines Corp. (TSX: DML)(NYSE AMERICAN: DNN) (\"Denison\" or the \"Company\") announces that, on August 12, 2025, it upsized and priced its previously announced offering of convertible senior unsecured notes due 2031 (the \"Notes\") for an aggregate principal amount of US$300 million (the \"Offering\"). The Company has granted 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$45 million aggregate principal amount of Notes. The Notes will bear cash interest semi-annually at a rate of 4.25% per annum. The initial conversion rate for the Notes will be 342.9355 common shares of Denison (\"Shares\") per US$1,000 principal amount of Notes, equivalent to an initial conversion price of approximately US$2.92 per Share. The initial conversion rate represents a premium of approximately 35% relative to the closing sale price of the Shares on August 12, 2025 and is subject to adjustment in certain events. The Notes will be convertible into Shares, cash or a combination of Shares and cash, at the Company's election. 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. The Offering is expected to close, subject to customary closing conditions, on or about August 15, 2025. 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 of approximately US$30.75 million (or approximately US$35.36 million if the initial purchasers fully exercise their option to purchase additional Notes) for the capped call transactions described below with a portion of the net proceeds from the Offering or from existing cash on hand. In connection with the pricing of the Notes, Denison has entered 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 institutions (the \"capped call counterparties\"). T...