NexGen Energy Ltd. (NXG), a Canadian company focused on delivering clean energy fuel for the future, has announced a significant equity financing initiative. The company is undertaking concurrent offerings in North America and Australia, targeting gross proceeds of approximately C$400 million and AUD$400 million, respectively.
The North American offering involves an agreement with a syndicate of underwriters, led by Merrill Lynch Canada Inc., for the purchase of 33,112,583 common shares at a price of C$12.08 per share. These shares will be offered through a short form prospectus in Canada and the United States, subject to regulatory approvals. Simultaneously, NexGen has entered into an underwriting agreement with Aitken Mount Capital Partners Pty Ltd for an offering of 30,534,351 common shares in Australia, to be settled as CHESS Depositary Interests, also at a price of C$12.08 (converted to AUD at the time of announcement). Canaccord Genuity (Australia) Limited will jointly lead manage and bookrun the Australian offering.
The company intends to allocate the net proceeds from the offerings towards advancing the engineering of its Rook I Project, covering pre-production capital costs, and for general corporate purposes. NexGen’s flagship Rook I Project is being optimally developed into the largest low-cost producing uranium mine globally, incorporating the most elite environmental and social governance standards. The offerings are expected to close around October 15, 2025, pending necessary regulatory approvals from the Toronto Stock Exchange and the New York Stock Exchange.
Trading of NexGen’s CHESS Depositary Interests on the ASX is expected to remain halted until the successful conclusion of the bookbuild for the Australian offering, anticipated before the ASX market opens on Monday, October 6, 2025 (Sydney time). The completion of either offering is not conditional upon the completion of the other, and neither set of underwriters bears obligations or liability with respect to the other offering.
