06:47 AM EDT, 09/16/2025 (MT Newswires) -- Paladin Energy ( PALAF ) late Monday said it has launched a fully underwritten equity raising to raise a total of A$300 million.

The equity raising is composed of an A$231 million ASX institutional placement of new Paladin fully paid ordinary shares; a Canadian bought deal private placement to raise C$30 million; and a fully underwritten sale of about A$36 million of existing shares issued and subsequently acquired as a result of the acquisition of Fission Uranium.

Paladin also plans to invite eligible shareholders to participate in a non-underwritten share purchase plan to acquire shares at the same price as the ASX placement and Fission share sale to raise up to an additional A$20 million.

All shares under the ASX placement, Fission share sale and share purchase plan will be issued at a fixed price of A$7.25 per new share, representing an 8% discount to the last close on the ASX on Sept. 15.

Shares issued under the TSX bought deal sale will be issued at a fixed price of C$6.66 per new share.

Proceeds from the equity raising will be used to advance the development of the Patterson Lake South project toward a final investment decision.

The equity raising positions the company with the balance sheet flexibility to progress the Patterson Lake South project alongside the ongoing ramp-up of the Langer Heinrich mine. The project is on track to be completed by the end of fiscal year 2026, and full mining and processing plant operations are planned for fiscal year 2027.