05:37 AM EDT, 07/26/2024 (MT Newswires) -- Ur-Energy ( URG ) said late Thursday that it intends to offer and sell shares in an underwritten public offering.

Shares of the company slumped more than 8% in premarket activity Friday.

The company expects to grant underwriters a 30-day option to purchase additional common stock equal to up to 15% of the securities sold in the offering.

The company will be selling all the securities in the offering.

Ur-Energy ( URG ) anticipates using the net proceeds to, among other things, supplement working capital for the continued ramp-up at Lost Creek, support development at Shirley Basin, and possible future acquisitions.

The company "frequently evaluates acquisition opportunities to expand its portfolio of uranium projects."

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