Energy Fuels announced it entered into a definitive merger agreement on June 23, 2026, to acquire VAC Group B.V. and Ara VAC TOPCO US LLC. The transaction consideration includes $718 million in cash and approximately 65.9 million common shares. Separately, the company disclosed a conditional $725 million financing commitment from the U.S. Department of War's Office of Strategic Capital to expand its critical minerals processing capabilities and has secured a $250 million term loan commitment from Goldman Sachs to support the acquisition.
Key Details
- Acquisition Terms: The aggregate purchase price consists of $718 million in cash, 65,853,000 common shares, and potential issuance of preferred shares valued up to $135 million if certain stock price conditions are met.
- Government Financing: Received a conditional $725 million, 20-year loan commitment from the U.S. Office of Strategic Capital (OSC) to expand its critical minerals processing capabilities at the White Mesa Mill and build a new U.S. rare earth metals and alloy facility.
- Acquisition Financing: Secured a $250 million senior secured term loan commitment letter from Goldman Sachs Bank USA to partially fund the merger.
- Investor & Governance Terms: The agreement includes an Investors' Rights Agreement granting the sellers the right to nominate one director to Energy Fuels' board, and a Lock-Up Agreement restricting the sale of the consideration shares for up to twelve months post-closing.