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enCore Energy Corp. Completes Upsized $115 Million Offering of Senior Convertible Notes
enCore Energy Corp. Completes Upsized $115 Million Offering of Senior Convertible Notes ...
About this update from Encore Energy Corp.
[{"type":"text","content":"\n\n\n\n enCore Energy Corp. Completes Upsized $115 Million Offering of Senior Convertible Notes\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n NASDAQ:EU\n \n\n\n TSXV:EU\n \n\n\n\n\n www.encoreuranium.com\n \n\n\n\n\n\n\n DALLAS\n \n\n ,\n \n\n Aug. 22, 2025\n \n\n /CNW/ -\n \n enCore Energy Corp.\n \n (NASDAQ: EU) (TSXV: EU) (the \"Company\" or \"enCore\"), America's Clean Energy Company™, announced today it has closed its previously announced offering of\n \n $115 million\n \n aggregate principal amount of 5.50% Convertible Senior Notes due 2030 (the \"Convertible Notes\"), which includes the upsized offering of\n \n $100 million\n \n and the exercise in full of the\n \n $15 million\n \n option granted to the initial purchasers of the Convertible Notes.\n \n\n\n\n\n\n\n\n\n The initial conversion rate for the Convertible Notes is 303.9976 common shares per\n \n $1,000\n \n principal amount of notes, which represents an initial conversion price of\n \n $3\n \n .2895 per common share. The initial conversion price represents a premium of 27.5% over the last reported sale price of\n \n $2.58\n \n per common share on\n \n August 19, 2025\n \n on The Nasdaq Capital Market. Under certain circumstances, the conversion price may be adjusted. However, the rate will in no event be greater than 387.5968 common shares per\n \n $1,000\n \n principal amount of notes (subject to adjustment), which represents a conversion price of approximately\n \n $2.58\n \n per common share.\n \n\n The net proceeds from the offering were approximately $109.8 million, after deducting the initial purchasers' discounts and commissions and estimated offering expenses. The Company used\n \n $11.5 million\n \n of the net proceeds from the Convertible Notes offering to pay the cost of entering into capped call transactions in connection with the Convertible Notes and approximately\n \n $10.6 million\n \n of the net proceeds from the Convertible Notes offering to repay amounts outstanding under its loan agreement. enCore i...