Summary by Futu AI
Uranium Energy Corp. has entered into an at-the-market offering agreement to sell up to $300 million of common stock. The offering will be conducted through Goldman Sachs & Co. LLC as lead manager and several co-managers.Shares will be sold at prevailing market prices on the NYSE American or other existing trading markets. The company intends to use the net proceeds for general corporate and working capital purposes. As of October 31, 2024, Uranium Energy had $32.5 million in cash and $66.2 million in uranium inventory.The offering expands Uranium Energy's financial flexibility as it advances its portfolio of U.S. and international uranium projects. The company recently restarted extraction at its Christensen Ranch ISR operation in Wyoming and is developing projects in Texas, Canada and Paraguay. With rising global demand for nuclear fuel, Uranium Energy aims to become a leading low-cost North American uranium supplier.