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Bacchus Capital Backed Yellow Cake In Highly Successful US$88.1M Raising

Yellow Cake plc (AIM: YCA) has raised approximately £62.5 million (approx. US$88.1 million) through a successful share placement and retail offer.

The placement of 23,947,009 new Ordinary Shares was taken up by existing and new institutional investors at a price of £2.50 per share via an accelerated bookbuild.

Concurrently with the Placing, the Company made an offer via the PrimaryBid platform of 1,052,991 new ordinary shares in the company (at the Placing Price to provide certain retail investors with an opportunity to participate in the Placing.

Yellow Cake 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.

The Placing Shares and the Retail Shares being issued together represent approximately 19.4% of the existing issued ordinary share capital (excluding treasury shares) of the company prior to the Placing and the Retail Offer.

CEO, Andre Liebenberg, said the fund raise which received significant demand from both existing shareholders and new investors.

“Our strategy is to buy and hold physical uranium for the long term, and with the continued support of our investors, we have been able to significantly increase our overall holdings in 2021 from nine million pounds to what will soon be over 15 million pounds,” he said.

“The sizeable demand for this fundraise once again highlights the positive sentiment behind uranium, as the combination of supply demand characteristics and the growing appreciation of the role of nuclear in our clean energy future make this an opportune time to accelerate our strategy.”

Yellow Cake’s key strategic advantage is its long-term contract with NAC Kazatomprom JSC, the largest, and one of the lowest cost, producers of uranium globally. The contract enables the company to acquire uranium at a price to be agreed prior to announcing the intended purchase, or any associated financing, enabling the company to acquire substantial volumes of uranium at undisturbed prices.

Yellow Cake’s management team is supported by 308 Services Limited, a uranium specialist focused on the uranium commodity markets.

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