NexGen Energy announces C$953m equity raising, trading halt

NexGen Energy (Canada) Ltd. has announced a significant equity financing comprising two tranches, totaling approximately C$953 million. The first is a C$400 million bought deal offering of 33,112,583 common shares at C$12.08 per share, underwritten by a syndicate led by Merrill Lynch Canada Inc. Concurrently, an upsized AUD$600 million offering of 45,801,527 common shares (settled as CDIs) at A$13.10 per share will be fully underwritten by Aitken Mount Capital Partners Pty Ltd. The company intends to use the net proceeds to advance the engineering of its Rook I Project, fund pre-production capital costs, and for general corporate purposes.

Trading in NexGen's ASX-listed securities has been halted at the company's request, pending the release of an announcement regarding a capital raising. The trading halt is expected to remain in effect until the earlier of Monday, October 6, 2025, or the release of the announcement to the market. The company confirms that the bookbuild for the upsized Australian offering has successfully closed.

The estimated net proceeds to the company from the Australian offering will be approximately C$530 million, after deducting fees and expenses, and approximately C$379 million from the North American offering after similar deductions. The Rook I Project's pre-production capital costs are estimated at C$744 million, with C$295 million for long-lead procurement and C$449 million for major construction. The company projects a total of 654,096,078 common shares to be issued and outstanding after the completion of both offerings.