Uranium Energy Stock Surges 8% Following Successful Capital Raise

Uranium Energy Corp (UEC) saw its shares climb over 8% on Friday, defying a broader market downturn that dragged the index down 2.7%. The rally followed the company's successful secondary stock offering, which was fully subscribed by underwriter Goldman Sachs.

The uranium miner sold 15.5 million shares at $13.15 each, with Goldman exercising its full option for an additional 2.33 million shares. The offering raised nearly $30.6 million in gross proceeds, earmarked for accelerating development of a new uranium refining facility and general corporate purposes.

Nuclear energy's resurgence in the U.S. has created favorable conditions for uranium producers. Uranium Energy is capitalizing on this trend, positioning itself to meet growing demand for nuclear fuel. The market's positive reception to the capital raise reflects confidence in the company's growth strategy amid the sector's revival.