Energy Fuels IncNYSEMKT
Jun. 19, 2015, 2:24 PM
- Energy Fuels (UUUU +12.1%) posts strong gains after announcing the completion of its $100M purchase of Uranerz Energy (NYSEMKT:URZ), as shareholders at both uranium miners voted to approve the deal.
- Former URZ shareholders now own ~55% of UUUU.
- The Nuclear Regulatory Commission also signed off on the deal yesterday, the final hurdle for the transaction to move forward.
Jan. 5, 2015, 7:45 AM
- Energy Fuels (NYSEMKT:UUUU) agrees to acquire Uranerz Energy (NYSEMKT:URZ), in an all-stock deal valued at ~$150M that the companies say will create the largest publicly-traded uranium producer in the U.S. by market cap.
- URZ shareholders will own ~55% of the shares of the combined company upon completion and receive a 37% premium based on the Jan. 2 NYSE closing price.
- UUUU expects to have a total of six uranium supply contracts with terms that extend into 2020; in 2015, the contracts require ~1M lbs. of uranium to be delivered at an average price of ~$58/lb., 63% higher than the current uranium spot price of $35.50/lb.