Uranium Resources Sets Record Date for Rights Offering [Manufacturing Close - Up]ProQuest Information & Learning
Uranium Resources, Inc. (URI) announced that it has set 5 p.m. eastern time on January 28, 2013 as the record date for its previously-announced shareholder rights offering ("Rights Offering").
In a release on January 18, the Company noted that under the terms of the Rights Offering, the Company will distribute at no charge to the holders of its common stock and warrants as of 5 p.m. eastern time on January 28, 2013 (the "Record Date") non- transferable subscription rights to purchase shares of the Company's common stock (the "Rights"). The final terms of the Rights Offering, including the subscription price and the expiration date for the Rights, will be set forth in a prospectus supplement that will be distributed to holders of the Company's common stock and warrants as of the Record Date.
The Company seeks to raise up to $13.0 million in the Rights Offering. By giving URI shareholders and warrant holders the right to purchase additional shares of common stock on a pro-rata basis, the rights offering permits such holders to maintain their percentage ownership in the Company.
As previously announced, in December 2012, URI and Resource Capital Fund V L.P. ("RCF") entered into a standby purchase agreement pursuant to which RCF agreed, subject to certain conditions, to participate in the proposed Rights Offering and to exercise rights so that total proceeds to the Company will equal at least $8.0 million, inclusive of the conversion of the $5.0 million bridge loan facility.
Uranium Resources Inc. explores for, develops and mines uranium.
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