08:55 AM EDT, 07/26/2024 (MT Newswires) -- Ur-Energy ( URG ) said on Friday that it had priced its public offering of 57.2 million shares at $1.05 per share for gross proceeds of $60 million.

The company had also granted the underwriters a 30-day option to purchase up to 8.6 million additional shares on the same terms.

Ur-Energy ( URG ) plans to use the proceeds from the offering, set to close on July 29, to boost working capital for Lost Creek, support development at Shirley Basin, fund potential acquisitions, and for general corporate purposes.

Shares of the company fell nearly 18% to $1.07 in premarket trading

Price: 1.0750, Change: -0.22, Percent Change: -17.31