enCore Energy Corp. announced on August 20, 2025, the pricing of an upsized $100 million aggregate principal amount of 5.50% Convertible Senior Notes due 2030. This offering was upsized from the previously announced $75 million aggregate principal amount.
The initial purchasers were granted a 13-day right to purchase up to an additional $15 million aggregate principal amount of Convertible Notes. The notes will bear interest at an annual rate of 5.50%, payable semi-annually, and are expected to close on August 22, 2025.
The initial conversion rate is 303.9976 common shares per $1,000 principal amount, representing an initial conversion price of approximately $3.29 per common share. This conversion price signifies a premium of 27.5% over the last reported sale price of $2.58 per common share on August 19, 2025, on The Nasdaq Capital Market.
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