08:57 AM EDT, 09/16/2025 (MT Newswires) -- Paladin Energy ( PALAF ) said Tuesday that it completed a fully underwritten equity raising for A$300 million in proceeds.

The financing comprised an A$231 million institutional placement of new Paladin fully paid ordinary shares on the Australian Securities Exchange, an A$33 million bought deal private placement, and a fully underwritten sale of A$36 million of existing shares issued and subsequently acquired as a result of the Paladin's acquisition of Fission Uranium.

Paladin said it also plans to undertake a non-underwritten share purchase plan at the same price as the ASX placement and treasury share sale to raise up to a further A$20 million.

Paladin plans to use the funds to advance the Patterson Lake South project in Saskatchewan towards a final investment decision.

The company's share price jumped 5.9% to C$7.40 on the TSX Monday.