Energy Fuels closes $700M 0.75% convertible notes due 2031; proceeds for rare earth expansion

ENERGY FUELS INC

Issued $700M aggregate principal of 0.75% Convertible Senior Notes due Nov 1, 2031; net proceeds ~$674.6M.
Initial conversion price ~$20.34 per share (32.5% premium to Sept 30, 2025 closing price).
Proceeds to fund ~$53.55M capped call cost and development of Phase 2 rare earth circuit at White Mesa Mill and Donald project in Australia.
Capped call transactions cover initial underlying shares with cap initially at $30.70 per share.
Interest payable semiannually starting May 1, 2026; notes redeemable at Company's option after Nov 6, 2028 if stock price ≥130% of conversion price.

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