Denison Mines Prices Upsized $300 Million Convertible Senior Notes Offering

07:42 AM EDT, 08/13/2025 (MT Newswires) -- Denison Mines (DNN) said Tuesday it has priced its upsized offering of $300 million in convertible senior unsecured notes due 2031.

The notes will bear cash interest semi-annually at a rate of 4.25% per year.

The initial conversion rate for the notes will be 342.9355 common shares per $1,000 principal amount of notes, which is equivalent to an initial conversion price of about $2.92 per share.

Initial purchasers have been granted a 13-day option to purchase up to an additional $45 million in aggregate principal amount of notes.

Net proceeds from the offering, set to close around Friday, will be used to support the company's evaluation and development of its uranium development projects, including the Wheeler River Uranium Project, as well as for general corporate purposes. A portion of the net proceeds will be used to pay about $30.8 million for the capped call transactions, the company said.

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