Yellow Cake Raises US$175M for Uranium Purchases
Yellow Cake plc, a uranium specialist, has raised US$175 million in a successful fundraising led by global law firm Norton Rose Fulbright. The transaction was advised by Fiona Millington, assisted by Thomas Vita and Thea Messina, with international securities law advice from several partners and associates.
The fundraising was conducted via an accelerated bookbuild, involving a placing of 22,983,977 new ordinary shares at a fixed price of £5.64 per share. Due to strong investor demand, the size of the placing was increased from the initially planned amount. Katie Mark, Senior Public Relations Manager at Norton Rose Fulbright, was involved in advising Canaccord, Berenberg, and Panmure Liberum on the share issue, although her direct involvement with Yellow Cake's share issue is not publicly confirmed.
The proceeds from the fundraising will be primarily used to fully exercise Yellow Cake's 2025 uranium purchase option. Additionally, funds will cover certain costs, working capital, and general corporate purposes. The company, founded by Bacchus Capital Advisers, operates in the uranium sector, holding physical uranium (U3O8) for long-term investment and engaging in uranium-related commercial activities.
Yellow Cake's successful fundraising, led by Norton Rose Fulbright, has raised US$175 million. The funds will be used for strategic uranium purchases and operational expenses. The company continues to operate in the uranium sector, focusing on long-term uranium holdings and related activities.
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