0001104659-14-007335.txt : 20140207 0001104659-14-007335.hdr.sgml : 20140207 20140207083841 ACCESSION NUMBER: 0001104659-14-007335 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20140206 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140207 DATE AS OF CHANGE: 20140207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: URANIUM RESOURCES INC /DE/ CENTRAL INDEX KEY: 0000839470 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 752212772 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33404 FILM NUMBER: 14581951 BUSINESS ADDRESS: STREET 1: 6950 S. POTOMAC STREET STREET 2: SUITE 300 CITY: CENTENNIAL STATE: CO ZIP: 80112 BUSINESS PHONE: (303) 531-0470 MAIL ADDRESS: STREET 1: 6950 S. POTOMAC STREET STREET 2: SUITE 300 CITY: CENTENNIAL STATE: CO ZIP: 80112 8-K 1 a14-5309_18k.htm 8-K

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): February 6, 2014

 

URANIUM RESOURCES, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

001-33404

 

75-2212772

(State or Other Jurisdiction

 

(Commission File Number)

 

(IRS Employer

of Incorporation)

 

 

 

Identification No.)

 

6950 S. Potomac Street, Suite 300
Centennial, Colorado 80112

 

80112

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (303) 531-0470

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 8.01          Other Events.

 

On February 7, 2014, Uranium Resources, Inc. (“URI” or the “Company”) issued a press release announcing that the Company has entered into a securities purchase agreement with certain institutional investors to sell approximately $10.3 million of its common stock in a registered direct offering (the “Offering”). Under the terms of the securities purchase agreement, URI will issue an aggregate of 3,960,000 shares of common stock at a price of $2.60 per share. Closing is expected to take place on or about February 12, 2014, subject to the satisfaction of customary closing conditions. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated by reference herein.

 

On February 6, 2014, the Company provided certain updated information in the prospectus supplement used in connection with the Offering:

 

·                  In the fourth quarter of 2011, the Company entered into an At-The-Market Sales Agreement (‘‘ATM Sales Agreement’’) with BTIG, LLC, allowing it to sell from time to time shares of its common stock having an aggregate offering price of up to $15.0 million through an ‘‘at-the-market’’ equity offering program. In January 2014, the Company sold 523,350 shares of its common stock under the ATM Sales Agreement for net proceeds of approximately $1.9 million. As of February 6, 2014, approximately $7.1 million remained available for future sales under the ATM Sales Agreement. Following the Offering, the Company estimates that General Instruction I.B.6 of Form S-3 will limit future sales under the ATM Sales Agreement to approximately $6.2 million.

 

·                  The Company had approximately $3.1 million in cash as of February 6, 2014. On average, the Company expended approximately $1.35 million of cash per month during 2013 and expects to spend $1.0 million per month during the balance of 2014.

 

Item 9.01          Financial Statements and Exhibits.

 

(d)           Exhibits.

 

Exhibit No.

 

Description

99.1

 

Press Release dated February 7, 2014.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated:  February 7, 2014

 

 

 

URANIUM RESOURCES, INC.

 

 

 

 

 

By:

/s/ Jeffrey L. Vigil

 

Name:

Jeffrey L. Vigil

 

Title:

Vice President—Finance and Chief Financial Officer

 

3



 

Exhibit Index

 

Exhibit No.

 

Description

99.1

 

Press Release dated February 7, 2014.

 

4


EX-99.1 2 a14-5309_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

Uranium Resources Announces $10.3 Million Registered Direct Offering

 

CENTENNIAL, Colo., February 7, 2014 — Uranium Resources, Inc. (Nasdaq:URRE) (“URI” or the “Company”) announced today that it has entered into a securities purchase agreement with certain institutional investors to sell approximately $10.3 million of its common stock in a registered direct offering.

 

Under the terms of the securities purchase agreement, URI will issue an aggregate of 3,960,000 shares of common stock at a price of $2.60 per share.  The closing of the funding is expected to take place on or about February 12, 2014, subject to the satisfaction of customary closing conditions.

 

Roth Capital Partners and Cowen and Company, LLC acted as co-placement agents in connection with the transaction.

 

URI intends to use the net proceeds from this offering to fund the completion of ongoing technical reports for three projects in New Mexico compliant with Canadian National Instrument 43-101, reclamation work, capital expenditures, working capital and other general corporate purposes.

 

The shares are being offered by URI pursuant to an effective shelf registration statement (File No. 333-174845), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 24, 2011.  A prospectus supplement and accompanying base prospectus relating to the offering will be filed with the SEC.  Copies of the prospectus and prospectus supplement relating to the offering may be obtained at the SEC’s website, http://www.sec.gov or from Roth Capital Partners, Equity Capital Markets, 888 San Clemente Drive, Newport Beach, CA 92660 (telephone: 800-678-9147; e-mail: rothecm@roth.com).

 

This news release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such offer, solicitation or sale is unlawful.  The shares of common stock may only be offered by means of a prospectus.

 

About Uranium Resources

 

Uranium Resources, Inc. explores for and recovers uranium. URI has over 206,600 acres of uranium mineral holdings in New Mexico, processing facilities and properties in Texas, and an NRC license to recover up to three million pounds of uranium per year using the in situ recovery (ISR) process.  The Company acquired these properties over the past 20 years, along with an extensive information database of historic drill hole logs, assay certificates, maps and technical reports.

 



 

For further information about Uranium Resources, please refer to our website at www.uraniumresources.com.

 

Safe Harbor Statement

 

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events or developments that the Company expects or anticipates will occur in the future, including but not limited to statements relating to the closing of the registered direct offering and the use of the proceeds are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, the Company’s ability to raise additional capital in the future, spot price and long-term contract price of uranium, the outcome of negotiations with the Navajo Nation, the Company’s ability to reach agreements with current royalty holders, weather conditions, operating conditions at the Company’s projects, government and tribal regulation of the uranium industry and the nuclear power industry, world-wide uranium supply and demand, availability of capital, maintaining sufficient financial assurance in the form of sufficiently collateralized surety instruments and other factors which are more fully described in the Company’s documents filed with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

 

Contact:

Wendy Yang

Investor Relations

(303) 681-7222

wyang-ir@uraniumresources.com

 


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