Energy Fuels Inc. has amended its previously announced agreement to acquire VAC Group B.V. and Ara VAC TOPCO US LLC. The amendment, entered into on October 13, 2026, modifies the terms of the Merger Agreement signed on June 23, 2026. The filing indicates the amendment addresses a commercial dispute with a customer regarding a supply agreement and related financial adjustments.
The amendment clarifies provisions concerning the potential settlement of the dispute and the repayment of certain indebtedness. It also includes adjustments to the purchase price to reflect any loss in value associated with the agreement or the debt repayment. The acquisition remains subject to the satisfaction of customary closing conditions outlined in the original agreement.
In addition to the merger amendment, the filing provides supplemental disclosure regarding the company's operations. This includes details on the business and operations of Energy Fuels' recently acquired subsidiary, Australian Strategic Materials Limited (ASM). The company also disclosed the planned departure of its Chief Legal Officer and Executive Vice President of Global Government Relations.
The filing includes unaudited pro forma financial information for the company, assuming the completion of both the VAC Acquisition and the previously completed ASM Acquisition. Furthermore, the document provides historical financial statements of Ara VAC IE Aggregator, LP, which is part of the VAC Group, for the years ended December 31, 2025 and 2024.
According to the auditors' report included in the filing, Ara VAC IE Aggregator LP reported a gross loss of €22,037 for the year ended December 31, 2025, compared to a gross loss of €39,218 in 2024. The company reported a total comprehensive loss of €95,535 for 2025, attributed to a loss after tax of €87,854.
