Energy Fuels prices $700M convertible notes at 0.75% due 2031; net proceeds ~$674.6M for rare earth projects

ENERGY FUELS INC

Issued $700M aggregate principal of 0.75% Convertible Senior Notes due Nov 1, 2031.
Initial conversion price ~$20.34 per share, a 32.5% premium over Sept 30, 2025 closing price of UUUU.
Net proceeds of ~$674.6M after discounts, fees, and ~$53.55M for capped call transactions.
Funds to be used for Phase 2 rare earth separations expansion at White Mesa Mill and Donald heavy mineral sands project in Australia.
Capped call transactions entered to reduce dilution upon conversion, with cap price of $30.70 per share.

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