05:10 PM EDT, 09/29/2025 (MT Newswires) -- Energy Fuels ( UUUU ) was last seen down 7.7% in after-hours New York trading after the company on Monday said it plans to raise US$550 million through a private placement of convertible senior notes due in 2031.

The notes will be offered to qualified institutional investors, the company said, adding that it may also offer an additional US$82.5 million in notes if the initial buyers exercise their option to purchase more.

The offering is subject to market conditions, and there's no guarantee it will be completed or finalized at the stated amount, according to the statement.

If the offering is completed, the proceeds will be used to cover the cost of certain capped call transactions, as well as help fund the company's rare earth expansion at its White Mesa Mill in Utah, development work on the Donald mineral sands project in Australia, and other general corporate and working capital needs, Energy Fuels ( UUUU ) said.

Shares of the company were last seen down US$1.25 to US$15.27 after hours. They closed down $0.31 to $22.92 on the Toronto Stock Exchange.