Jaguar Uranium Corp.

Date of Prospectus: February 7, 2026

Jaguar Uranium Corp. IPO: A Deep Dive into the Uranium Sector’s Next Listing Opportunity

Jaguar Uranium Corp. is set to make its public debut, offering investors a unique chance to gain exposure to the uranium exploration and development market. This comprehensive analysis covers every aspect of the IPO, including offer structure, financial health, risk assessment, management, growth plans, shareholder structure, and expected listing performance, all strictly based on the official prospectus.

IPO Snapshot

Jaguar Uranium Corp. is targeting the NYSE American with its initial public offering under the symbol [not disclosed in the prospectus]. The company is offering 6,000,000 Common Shares at an estimated price range of \$4.00 to \$6.00 per share, with an assumed offering price of \$5.00 per share. The underwriter has a 30-day option to purchase up to an additional 900,000 shares, representing 15% of the total offering, to cover over-allotments.

Dividend Policy: Jaguar Uranium does not intend to pay dividends in the foreseeable future. Investors should expect returns, if any, to come from share appreciation.

Placement Breakdown: All shares are offered to the public via the underwriter, with no cornerstone or anchor investor tranches disclosed. Directors, officers, and certain current shareholders have agreed to lock-ups of 120–180 days post-listing.

Use of Proceeds: Focused on Growth and Expansion

Net proceeds are primarily earmarked for:

• Exploration and development of the company’s mineral properties
• Acquisition of additional acreage and producing properties
• General corporate purposes

Each \$1.00 move in offering price results in a \$5.6 million change in net proceeds; every 1,000,000 share offer change impacts proceeds by \$4.6 million. The company’s use of proceeds reflects a growth-driven strategy, with no significant deleveraging focus as debt levels are minimal [[52]].

Investor Participation & Book Quality

No anchor or institutional allocations by name are disclosed. There are no indications of pre-listing disposals by major shareholders. The book is fully underwritten by Titan Partners Group LLC, and the absence of cornerstone tranches or pre-placed shares suggests retail and institutional demand will be tested in the open market. The presence of a standard 15% over-allotment option indicates confidence in book quality, but the prospectus does not quantify oversubscription levels.

Deal Parties & Structure

Bookrunner/Underwriter: Titan Partners Group LLC (a division of American Capital Partners, LLC) is the sole book-running manager.
Legal Counsel: Cozen O’Connor, Dentons US LLP
Stabilization/Greenshoe: Up to 900,000 shares (15%) over-allotment option exercisable for 30 days post-listing.
Underwriter Warrants: Up to 483,000 Common Shares (7% of total), exercisable at \$6.25 (125% of IPO price), valid for five years, lock-up and sales restrictions apply [[25], [135], [136]].

Based on the underwriter’s full commitment and standard U.S. IPO stabilization mechanisms, the company’s listing-day performance could be supported by strong syndicate involvement and lock-up structures.

Company Overview: Business, Model & Sector

Jaguar Uranium Corp. is an exploration-stage company focused on the acquisition, exploration, and development of uranium properties. The company’s assets are primarily located in Argentina, Colombia, and Canada, with three direct, wholly-owned subsidiaries (Gaia Energy, Berlin BVI, and 284 Ontario). The company’s current revenue is zero, as it is pre-production and pre-revenue. Its business model is to develop mineral properties through exploration and, ultimately, mining and sale of uranium and related products.

Key Segments & Geography:

• Primary focus: Uranium exploration and development
• Principal assets: Berlin Project (Colombia), Argentina Projects, and Canadian properties
• Customer Base: Not yet commercialized; no revenues disclosed [[28], [69], [71]]

Industry Overview: The uranium sector is described as highly competitive, with market fundamentals improving globally. The company operates in the mining and energy sector, focusing on uranium, which is critical for nuclear energy and decarbonization efforts. The market is subject to commodity price volatility and regulatory scrutiny.

Financial Health: Key Metrics and Balance Sheet Analysis

As an early-stage exploration company, Jaguar Uranium Corp. has no revenues and continues to report losses as it invests in property acquisition and development.

Jaguar Uranium Corp. is well-capitalized for the near term post-IPO, with minimal debt and a strong cash position reflecting its pre-revenue, exploration-focused status.

Market Position and Competitive Advantages

Jaguar Uranium faces intense competition in all aspects of mineral property acquisition, exploration, and development, including access to capital, skilled personnel, and attractive assets. The company identifies its ability to acquire, explore, and develop properties as a key competitive factor, but does not claim a leading market share or ranking at this stage. Brand strength and industry reputation are being established through ongoing exploration activities [[72]].

Management Team

The leadership team includes:

• Luis Ducassi – Executive Chairman
• Steven Gold – President & Chief Executive Officer
• William Avery – Chief Financial Officer
• Maxime Leclerc – Director
• Trumbull Fisher – Director
• Janet Meiklejohn – Director Nominee
• Tomas De Pablos Souza – Director Nominee

The team combines experience in mining finance, uranium exploration, and corporate governance as disclosed in the prospectus [[117]].

Trends, Timing & Environment

Industry Trends: The global uranium market is described as entering a period of improving fundamentals, driven by nuclear energy demand and decarbonization. The sector is capital intensive, cyclical, and highly dependent on commodity prices.

IPO Timing: The offering is expected to close as soon as practicable following effectiveness, with listing anticipated for 2026. Exact dates are not disclosed.

Economic Environment: The prospectus describes a competitive mining sector with a recovering uranium market and stable capital markets for resource companies.

Recent Developments: The company completed acquisitions of the Berlin Project and Argentina Projects, issued new shares for property acquisitions, and implemented management changes and incentive plans in the months preceding the IPO [[171], [179]].

Key Risk Factors

Jaguar Uranium Corp. highlights several critical risks for investors:

• No operating history or revenue to date; business remains pre-production, pre-revenue
• Exploration-stage risks: Under-capitalization, cash shortages, and inability to guarantee discovery or profitable development of reserves
• Heavy dilution risk: Immediate and substantial dilution for IPO investors; pro forma net tangible book value after IPO is \$1.64 per share, implying dilution of \$3.36 per share at the \$5.00 offer price
• Future equity raises, options, and warrants could cause further dilution and downward pressure on share price
• No public market exists for shares; market may be illiquid or volatile post-listing
• Emerging growth company and smaller reporting company status: May make shares less attractive due to reduced disclosure
• Potential classification as a Passive Foreign Investment Company (PFIC), which could have adverse tax consequences for U.S. investors
• Significant reliance on third-party technical reports and consultants; potential for inaccuracies
• Geopolitical, regulatory, foreign exchange, and commodity price risks inherent to mining
• Lock-up expirations (120–180 days) could result in increased share supply and pressure on price

Growth Strategy

Jaguar Uranium’s growth is driven by:

• Deployment of IPO proceeds for exploration and development of core assets in Argentina and Colombia
• Potential acquisition of additional uranium properties and resource expansion
• Use of equity and cash to complete property acquisitions
• Maintaining flexibility in allocation of capital for general corporate purposes and opportunistic property purchases

No specific timelines for production or quantified resource/capacity additions are disclosed, reflecting the company’s early-stage status [[52], [71], [72]].

Ownership & Lock-up Structure

The post-IPO shareholding landscape is as follows:

Lock-up periods: 180 days for company, directors, officers, and certain shareholders; 120 days for selected other shareholders. Underwriter may release lock-ups at any time without notice [[117], [124], [136]].

Employee/ESOP: 858,000 options outstanding (weighted avg. exercise price \$3.89), 2,916,500 warrants, and 420,000–483,000 underwriter warrants. All are subject to lock-up and vesting restrictions.

Valuation and Peer Comparison

No peer metrics, P/E, P/B, EV/EBITDA, or public comparable company data are provided in the prospectus. Valuation must be inferred from the company’s pre-revenue, asset-value basis and the offer price of \$4.00–\$6.00 per share. No sector performance tables or IPO comparisons are included.

Research & Opinions

No analyst coverage or price targets are included in the prospectus.

IPO Allotment Result

Final subscription outcomes by tranche are not provided.

Listing Outlook: First-Day Performance and Investor Takeaway

Jaguar Uranium Corp.’s IPO offers exposure to a pure-play uranium exploration story with a strong post-IPO cash position, minimal debt, and a clear growth mandate. However, the company is pre-revenue, carries substantial dilution risk, and faces the inherent uncertainties of early-stage mining ventures. The book’s quality is supported by a full underwrite and a standard over-allotment option, but the absence of anchor investors and peer performance data may result in post-listing volatility.

Investors should expect high volatility and risk, with the potential for significant share price movement both upward and downward on listing. Based strictly on prospectus figures, first-day trading is likely to be volatile, with no clear basis for a sustained premium or discount to offer price. The IPO appears suitable only for high-risk, long-term investors who understand the uranium exploration cycle.

How to Access the Prospectus

The official prospectus and further filings can be reviewed at:
www.sec.gov
and
www.jaguaruranium.com

How to Apply

Applications may be submitted through participating brokers. The opening and closing dates for the IPO application window are not specified in the prospectus.