Ur-Energy slides after $100 million convertible bonds offering

Uranium mining firm Ur-Energy's URG.A shares slide 14% to $1.17

URG announces pricing of $100 million of convertible bonds due 2031

Bonds will pay interest semiannually at a 4.75% rate per year

Proceeds will be used for project development, general purposes, and to pay cost of capped call transactions - hedging tool to protect against shareholder dilution

Initial conversion price of $1.73 represents nearly 27.5% premium to the last reported sale price

URG has 377.9 million outstanding shares for $444 million market cap, per LSEG data

All six brokerages covering the stock rate it "buy"; median PT $2.33 - data compiled by LSEG

As of last close, URG stock up 20.4% YTD