Cameco Corporation announced on November 12, 2024, an at-the-market (ATM) equity offering for common shares, aiming to raise up to USD 500 million (approximately CAD 695.65 million, based on the Bank of Canada exchange rate of 1.3913 on November 8, 2024). The offering was set to close by December 12, 2026, or earlier if all shares were sold. The shares were to be sold through TD Securities Inc., CIBC World Markets Inc., and Scotia Capital Inc. as Canadian agents, along with their U.S. affiliates TD Securities (USA) LLC, CIBC World Markets Corp., and Scotia Capital (USA) Inc. Proceeds were allocated for development opportunities, acquisitions, debt repayment, or general corporate purposes.

Sales occurred on the Toronto Stock Exchange (TSX), the New York Stock Exchange (NYSE), or other qualifying trading platforms at prevailing market prices. Agents received a commission of up to 2% on gross sales. The offering did not require a minimum amount to be raised, providing flexibility in total proceeds.

Cameco engaged McCarthy Tétrault LLP (Canada) and Covington & Burling LLP (U.S.) as its legal advisors, while the agents were represented by Borden Ladner Gervais LLP (Canada) and Skadden, Arps, Slate, Meagher & Flom LLP (U.S.).