04:42 PM EDT, 08/22/2025 (MT Newswires) -- EnCore Energy (EU) said late Friday it closed an upsized private offering of $115 million of 5.5% convertible senior notes due 2030.

The total includes an upsized offering of $100 million and the full exercise of the $15 million option granted to initial purchasers.

The notes carry an initial conversion price of $3.29 per share, a 27.5% premium over the company's Aug. 19 closing price of $2.58.

Net proceeds were $109.8 million, with $11.5 million allocated to capped call transactions, $10.6 million for debt repayment, and the remainder for general corporate purposes, according to EnCore.