06:49 AM EDT, 08/20/2025 (MT Newswires) -- enCore Energy (EU.V) on Wednesday said it priced the private offering of US$100 million of 5.5% convertible senior notes due 2030, increasing the size from the US$75 million previously announced.

The company granted the initial purchasers a 13-day right to buy up to an additional US$15 million of convertible notes. The notes will be redeemable for cash at enCore's option at a price equal to 100% of the principal amount of notes to be redeemed plus accrued and unpaid interest.

Net proceeds from the offering is estimated at US$95.3 million, or US$109.8 million if the initial purchasers exercise their option to purchase additional notes in full. The company plans to use the net proceeds for capped call transactions, to repay amounts under its loan agreement and for general corporate purposes.

The sale is scheduled to close on Aug. 22, subject to customary closing conditions.

The company's share price at last look dropped 10% to US$2.32 in U.S. pre-market trading on Wednesday.