Past year: ▼ 66%(41.3c – 1.38 USD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Aug 2024capital raising announcement▲ GoodMajor
Westwater replaced its 2020 Lincoln Park equity facility with a larger one, committing Lincoln Park Capital to buy up to $30 million of stock over the next two years as needed to help fund Kellyton Graphite Plant construction.
20 Aug 2021capital raising announcement● Neutral
The at-the-market stock-sale program with Cantor Fitzgerald was expanded again, to up to $50 million, under a fresh registration after the company's move to NYSE American.
8 Oct 2020capital raising announcement● Neutral
The company expanded its Cantor Fitzgerald at-the-market stock-sale program to up to $43.1 million under a new shelf registration.
4 Sept 2020capital raising announcement▲ GoodMajor
Alongside a routine expansion of its Cantor Fitzgerald at-the-market program, Westwater disclosed a letter of intent to sell its remaining New Mexico/Texas uranium assets for about $1.95 million in the buyer's stock plus royalties, and returned its Nevada/Utah lithium claims to the government - completing the pivot away from uranium and lithium toward graphite.
22 May 2020capital raising announcement▲ GoodMajor
Westwater signed a committed equity facility letting it sell Lincoln Park Capital up to $12 million of stock over two years as needed, drawing an initial $250,000 immediately.
31 May 2019capital raising announcement● Neutral
The company brought in a new financing partner, Lincoln Park Capital, selling it a small $550,000 stock-and-warrant package - the start of what becomes a recurring equity-financing relationship.
14 Dec 2016capital raising announcement● NeutralMajor
Days later the company raised the new creditor's conversion-price floor from $0.10 to $0.30/share, softening the prior week's dilutive terms, and separately amended its pending Hydro Resources sale to Laramide Resources to drop the requirement that Laramide line up financing first, in exchange for a $250,000 break fee.
6 Dec 2016capital raising announcement▼ BadMajor
With its RCF loan about to come due, the company pushed the maturity to March 2017 at a steep 15% interest rate and brought in a new creditor who bought $2.5 million of that debt and committed to buy $5.5 million more, convertible into stock at a discount as low as $0.10/share - much more dilutive terms than its original RCF debt.
3 Mar 2015capital raising announcement▼ Bad
The company raised $6 million in another registered direct offering, at $1.50 per unit with attached warrants - a lower price and richer warrant coverage than its 2014 raise, reflecting a weaker stock.
30 Apr 2014capital raising announcement▼ BadMajor
Lender RCF cut the size of its 2013 convertible loan facility from $15 million to $8 million but then advanced the full remaining $8 million immediately, convertible into stock at $2.60/share; the company separately settled a lawsuit with its former CFO by issuing him stock.
7 Feb 2014capital raising announcement● Neutral
The company raised $10.3 million selling 3.96 million shares at $2.60 in a direct offering to institutional investors, on top of its existing small at-the-market stock-sale program with BTIG.
What it means for a shareholder
4.0m new shares at US$2.60 to raise about US$10.3m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held US$1,000 of shares (385 at the issue price), your slice goes from 0.00194% to 0.00162% of the company. To keep it you'd need 77 more shares - about US$200 at the issue price.
Create a free account to see this worked out for your own holding.
7 Mar 2013capital raising announcement▼ BadMajor
Lender Resource Capital Fund V exercised rights to buy about $5 million more stock at $2.55/share, paying for it by offsetting its existing bridge loan, which pushed RCF's ownership stake from 28% to almost 33%.
