Ur-Energy Proposes $100 Million Convertible Senior Notes Offering

Ur-Energy Inc. announced its plan to offer $100 million in Convertible Senior Notes due 2031 through a private placement. The offering is aimed at qualified institutional buyers under Rule 144A. An option to purchase an additional $20 million of notes could be granted to initial purchasers. The transaction's completion is subject to market conditions.

The notes will be general senior unsecured obligations with semiannual interest. Conversion options into cash or common shares will be available to holders under certain conditions. Ur-Energy aims to use proceeds for capped call transactions, project development, and corporate purposes.

Capped call transactions are expected to offset potential economic dilution and excess cash payments related to notes conversion. The offering's final acceptance by the Toronto Stock Exchange is pending. The notes have not been registered under the U.S. Securities Act, and distribution will follow specific exemptions.