Business
Uranium Energy Corp Completes Financing and Reports Over $110 Million in Cash, Equity and Inventory Holdings as of April 9, 2021
CORPUS CHRISTI, Texas, April 9, 2021 /CNW/ - Uranium Energy Corp (NYSE: UEC) (the "Company" or "UEC") is pleased to announce the closing of its previously annou
About this update from Uranium Energy Corp.
[{"type":"text","content":" CORPUS CHRISTI, Texas, April 9, 2021 /CNW/ - Uranium Energy Corp (NYSE: UEC) (the \"Company\" or \"UEC\") is pleased to announce the closing of its previously announced offering of an aggregate of 3,636,364 shares of common stock of the Company (each, a \"Share\") at a purchase price of $3.30 per Share and for gross proceeds of $12,000,000 in a registered direct offering (the \"Offering\"). The Company offered and sold the Shares pursuant to a Securities Purchase Agreement, dated April 5, 2021, with certain institutional investors. UEC anticipates that the net proceeds of the Offering will be used for additional uranium purchases and for general corporate and working capital purposes. Following the closing of this offering, the Company has over $110 million in cash, equity and inventory holdings. UEC's physical uranium initiative is fully funded with cash on hand and now includes 2.105 million pounds of U.S. warehoused uranium at a volume weighted average price of ~$30 per pound with deliveries between March 2021 to December 2022. H.C. Wainwright & Co. acted as the exclusive placement agent for the Offering. The Shares were offered by the Company pursuant to a prospectus supplement to the Company's effective shelf registration statement on Form S-3 (File No. 333-236571) previously filed with the United States Securities and Exchange Commission (the \"SEC\") and which became effective March 3, 2020. The Offering was made only by means of a prospectus supplement and accompanying prospectus that form a part of the effective shelf registration statement. A prospectus supplement relating to the Offering was recently filed by the Company with the SEC. Electronic copies of the prospectus supplement and accompanying base prospectus relating to the Offering may be obtained from the SEC's website at http://www.sec.gov, or from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022 by e-mail at: [email protected] or by telephone at: (212) 856-5711. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or juris...