NexGen To Raise C$180 Million In Australia To Improve ASX-Listing Liquidity

NexGen Energy (TSX: NXE) is aiming to raise hundreds of millions of dollars while the market for uranium remains hot. The company this morning entered into a placement agreement in Australia to raise $180 million in gross proceeds via the sale of shares.

The financing will see the company sell a total of 16.1 million shares at a price of $11.11 per each, with the financing to be led by Aitken Mount Capital Partners and co-led by Canaccord Genuity. Funds are to be raised among Australian investors, in an effort to increase the liquidity of its ASX listing.

Proceeds from the financing meanwhile will be used for the continued develop and further exploration of its mineral properties, along with the standard general corporate purposes.

As part of the financing, NexGen will be reducing the amount of funds it intends to raise under an outstanding at-the-market financing. The ATM financing, previously sized at $500 million, will be reduced to $315 million in an effort to allow room for the Australian offering under the current base shelf prospectus. The ATM offering to date has raised the company gross proceeds of $134.9 million, with NexGen having sold 13.0 million shares under that offering since its launch in December 2023.

The placement taking place in Australia is slated to close by May 15, 2024.

UPDATE: NexGen has since the time of publishing upsized the financing to $224 million in gross proceeds. At the same time, the ATM has been downsized further to $275.9 million in total proceeds.

NexGen Energy last traded at $11.54 on the TSX.


Information for this story was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

NexGen Begins 43,000 Metre Drill Program Focused On 2024 Discovery

NexGen Energy (TSX: NXE) has begun an extensive exploration campaign within the Athabasca Basin. The...

Thursday, January 30, 2025, 07:59:35 AM

NexGen Energy Expands Discovery At Patterson Corridor East

NexGen Energy (TSX: NXE) reported this morning that it has expanded a broad and continuous...

Tuesday, November 12, 2024, 09:01:50 AM

NexGen Reports 10.0% U3O8 Over 0.5 Metres At New Discovery

NexGen Energy (TSX: NXE) is reporting that it has hit additional uranium mineralization while drill...

Wednesday, May 29, 2024, 08:41:22 AM

NexGen Submits Final Responses For Rook I Project Environmental Assessment

NexGen Energy (TSX: NXE) is nearing the conclusion of the environmental assessment review process for...

Tuesday, May 21, 2024, 08:32:39 AM

NexGen Energy Hits 15.0 Metres Of 15.9% U3O8, Including 0.5 Metres Of 68.8% U3O8 At Patterson Corridor East

NexGen Energy (TSX: NXE) this morning is reporting that it has intersected its best discovery...

Tuesday, May 27, 2025, 09:37:43 AM