Westwater Resources, Inc. filed its quarterly report on Form 10-Q for the period ended September 30, 2026, with the SEC on November 12, 2026, disclosing balance sheet details including the full cash redemption of both series of convertible notes and a reduction in cash from $48.6 million to $29.2 million since year-end 2025.

Key Highlights

  • Cash position: Cash and cash equivalents stood at $29,193 thousand as of September 30, 2026, down from $48,576 thousand at December 31, 2025, according to the filing.
  • Convertible notes redeemed: Both the Series A-1 and Series B-1 Senior Convertible Notes, each with an original aggregate principal of $5,000,000, were voluntarily redeemed in full in cash on July 16, 2026, the filing disclosed.
  • Total assets: Total assets were reported at $183,747 thousand as of September 30, 2026, compared to $194,533 thousand at December 31, 2025.
  • Net property, plant and equipment: Net PP&E increased to $150,634 thousand from $143,193 thousand at year-end 2025, reflecting continued construction activity at the Kellyton Graphite Plant.
  • Shares outstanding: 131,374,682 shares of common stock were outstanding as of November 12, 2026, the filing stated.
  • New Lincoln Park agreement: The company entered into a new Purchase Agreement with Lincoln Park Capital Fund, LLC dated November 10, 2026, after the prior 2024 agreement expired by its terms on November 1, 2026.
  • Offtake and procurement agreements terminated: The Offtake Agreement with FCA US LLC was terminated on November 3, 2025, and the Procurement Agreement with SK On was terminated on March 31, 2026, according to the filing's definitions section.

Westwater Resources Reports Balance Sheet Shift and Debt Clearance Through Q3 2026

Westwater Resources, Inc. (NYSE American:WWR), a smaller reporting company focused on battery-grade graphite development, reported its condensed consolidated balance sheet as of September 30, 2026, in its Form 10-Q filed November 12, 2026. The filing shows cash and cash equivalents of $29,193 thousand, a decline of approximately $19,383 thousand from the $48,576 thousand reported at December 31, 2025. The company attributed no current convertible note liabilities on the September 30, 2026 balance sheet, compared to $1,848 thousand for Series A-1 and $4,125 thousand for Series B-1 at year-end 2025.

According to the filing, both convertible note series were voluntarily redeemed in their entirety in cash on July 16, 2026. The Series A-1 Senior Convertible Notes had been issued pursuant to a June 13, 2025, Securities Purchase Agreement in the aggregate principal amount of $5,000,000. The Series B-1 Senior Convertible Notes were issued under an August 7, 2025, Securities Purchase Agreement, also in the aggregate principal amount of $5,000,000. The filing states that both redemptions occurred "upon the satisfaction of certain conditions set forth in the Convertible Notes."

Net property, plant and equipment grew to $150,634 thousand as of September 30, 2026, from $143,193 thousand at December 31, 2025, with gross PP&E rising from $144,646 thousand to $152,658 thousand, reflecting ongoing construction costs associated with the Kellyton Graphite Plant near Kellyton, Alabama. Accounts payable increased to $5,099 thousand from $3,989 thousand over the same period. The filing also noted the termination of the company's Offtake Agreement with FCA US LLC on November 3, 2025, and the termination of its Procurement Agreement with SK On Co., Ltd. on March 31, 2026.

What Was Disclosed

Westwater Resources filed a Form 10-Q for the quarter ended September 30, 2026, disclosing balance sheet data including a decline in cash, the full cash redemption of two series of convertible notes on July 16, 2026, and continued growth in property and equipment related to its Kellyton Graphite Plant project.