Uranium Royalty Corp. [TSX- URC, NASDAQ-UROY] has announced a US$30 million bought deal financing agreement with proceeds to be used to fund future purchases of physical uranium, and implement the company’s growth strategy through future acquisitions of royalties, streams, physical uranium.
The company said a syndicate of underwriters has agreed to purchase on a bought deal basis 10.2 million Uranium Royalty common shares at US$2.94 each (equivalent to approximately $4.00 per share). The underwriters have been granted to purchase up to an additional 15% of the offering to cover any over-allotments at the offering price. The green shoe option will remain open for 30 days following closing, which is expected to occur on October 17, 2023.
Uranium Royalty shares were active on the news, easing 9.0% or 40 cents to $3.90. The shares are currently trading in a 52-week range of $4.38 and $2.45.
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