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Cameco closes US$747.6M bought deal offering of common shares

Date Closed

October 17, 2022

Lead Office



747.60 Million USD

On October 17, 2022, Cameco Corporation ("Cameco") closed its previously announced bought deal offering of 34,057,250 common shares of Cameco. The offer included the exercise in full of the underwriters’ option to purchase additional common shares for US$21.95 per share for gross proceeds to Cameco of approximately US$747.6 million.

Cameco intends to use the aggregate proceeds from the offering to partially fund their share of the acquisition of Westinghouse Electric Company, which is to be completed through a strategic partnership with Brookfield Renewable Partners, together with Brookfield Renewable’s institutional partners.

Cameco, headquartered in Saskatoon, Saskatchewan, is one of the world’s largest providers of the uranium needed to generate clean, reliable baseload electricity around the globe.

McCarthy Tétrault advised Cameco with a team led by David Lever and Andrew Parker that included Shaun Khullar, Samantha Pettinato, Victoria Zed, Liam Sako, Lama Kahiel, Angela Lizotte, Matt Cumming and David Woollcombe (Securities), Stefanie Morand, Kabir Jamal and Dean Xiao (Tax).