Yellow Cake plc’s US$140 Million Equity Fundraising

Norton Rose Fulbright has advised Canaccord Genuity and Cantor Fitzgerald on the deal.

Canaccord Genuity and Cantor Fitzgerald acted as joint bookrunners on a $140 million placing and PrimaryBid retail offer by Yellow Cake plc (“Yellow Cake“). 

The shares were placed with new and existing institutional investors globally. The proceeds of the fundraising will be used to fund the purchase of 3.5 mmlb of physical uranium under Yellow Cake’s Framework Agreement with Kazatomprom at a cost of US$100 million, as well as for general working capital and potential opportunistic purchases of additional uranium.

Yellow Cake plc was founded and established by Bacchus Capital to be a specialist company operating in the uranium sector with a view to holding physical uranium for the long-term. Norton Rose Fulbright previously advised the banks on Yellow Cake’s IPO in 2018 and on its subsequent equity offering in 2019.

The Norton Rose Fulbright team was led by corporate M&A and securities partner, Fiona Millington (Picture), with assistance from associate Victoria Morris. Partner Tom Vita advised on US securities law aspects, assisted by counsel Kevin Connolly. International securities law advice was provided by corporate partners Bruce Sheiner in Toronto, Jeremy Wickens in Perth, Nicolas Wilson in Hong Kong and consultant Sheela Moorthy in Singapore.

 

Involved fees earner: Kevin Connolly – Norton Rose Fulbright; Fiona Millington – Norton Rose Fulbright; Bruce Sheiner – Norton Rose Fulbright; Tom Vita – Norton Rose Fulbright; Jeremy Wickens – Norton Rose Fulbright; Nicholas Wilson – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Canaccord Genuity; Cantor Fitzgerald;

Author: Federica Tiefenthaler