---
schema_version: "secwatch.filing_event.v1"
accession: "0001062993-25-015938"
form_type: "8-K"
ticker: "UUUU"
cik: "0001385849"
company_name: "ENERGY FUELS INC"
filed_at: "2025-10-06T23:59:59+00:00"
generated_at: "2026-05-17T04:33:30.845325+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001062993-25-015938
- form_type: 8-K
- ticker: UUUU
- cik: 0001385849
- company_name: ENERGY FUELS INC
- filed_at: 2025-10-06T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1385849/000106299325015938/0001062993-25-015938-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1385849/000106299325015938/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062993-25-015938
- JSON: https://secwatch.observer/filing/0001062993-25-015938.json
- Plain text: https://secwatch.observer/filing/0001062993-25-015938.txt

## Key facts
- Debt Financings
  ENERGY FUELS INC incurred convertible notes of $700.0 million aggregate principal amount with Goldman Sachs & Co. LLC., as representative of the several initial purchasers at 0.75% per year maturing November 1, 2031.
  - Instrument: convertible notes
  - Principal: $700.0 million aggregate principal amount
  - Counterparty: Goldman Sachs & Co. LLC., as representative of the several initial purchasers
  - Rate: 0.75% per year
  - Maturity: November 1, 2031
  - Event: incurrence
  source text: additional $100.0 million aggregate principal amount of notes, which the Purchasers exercised in full on October 1, 2025. The closing occurred on October 3, 2025, and a total of $700.0 million aggregate principal amount of notes were issued. Net proceeds of the offering will be approximately $674.6 million, after deducting the Purchasers' discounts and commissions and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1385849/000106299325015938/0001062993-25-015938-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.