Company sells equity units through lead underwriter Haywood Securities
By Devika Patel
Knoxville, Tenn., July 25 – Uranerz Energy Corp. said it settled a $12 million public offering of units. The deal priced for $10 million on July 16.
The company sold 9.6 million units of one common share and one half-share warrant at $1.25 per unit, with each whole warrant exercisable at $1.60 for 30 months. The strike price is a 15.11% premium to the July 15 closing share price of $1.39.
Haywood Securities Inc. and Cantor Fitzgerald Canada Corp. were the co-lead agents of a syndicate that included H.C. Wainwright & Co., LLC and Laurentian Bank Securities Inc.
Proceeds will be used to develop mining facilities at the Nichols Ranch ISR Uranium Project, for working capital requirements and other general corporate purposes.
Vancouver, B.C.-based Uranerz mines for uranium in the Powder River Basin area of Wyoming.
| Issuer: | Uranerz Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $12 million
|
| Units: | 9.6 million
|
| Price: | $1.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 30 months
|
| Warrant strike price: | $1.60
|
| Agents: | Haywood Securities Inc. and Cantor Fitzgerald Canada Corp. (co-leads), H.C. Wainwright & Co., LLC and Laurentian Bank Securities Inc.
|
| Pricing date: | July 16
|
| Settlement date: | July 25
|
| Stock symbol: | NYSE: URZ
|
| Stock price: | $1.39 at close July 15
|
| Market capitalization: | $103.49 million
|
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