NexGen Energy increases offering to $600M (Australian)

Executive Summary

• NexGen Energy announced an upsized equity offering of approximately AUD 600 million (≈ 45.8 million shares at A$13.10) in Australia, fully underwritten by Aitken Mount Capital Partners.
• A concurrent bought‑deal offering in North America will raise roughly CAD 400 million (33.1 million shares at C$12.08) led by Merrill Lynch Canada.
• Net proceeds are earmarked for engineering and pre‑production capital costs on the Rook I uranium project, as well as general corporate purposes.

Key Details

• Australian Offering: 45,801,527 common shares (CHESS depositary interests) at A$13.10 per share → gross proceeds ≈ A$600 million. Fully underwritten by Aitken Mount Capital Partners; Canaccord Genuity (Australia) Ltd. serves as joint lead manager and bookrunner.
• North American Offering: 33,112,583 common shares at C$12.08 per share → gross proceeds ≈ C$400 million. Bought‑deal basis with syndicate led by Merrill Lynch Canada Inc.; Canaccord Genuity (Canada) Ltd. acts as joint lead manager and bookrunner.
• Pricing Basis: Canadian price is the CAD equivalent of the Australian offering price based on Bloomberg rate ($1 CAD = $1.0850 AUD as of Oct 1, 2025).
• Regulatory Filings:
• Australian shares offered to sophisticated/professional investors without disclosure under the Corporations Act.
• North American shares issued via short‑form prospectus (all Canadian provinces except Quebec) and a Form F‑10 registration statement filed with the SEC (not yet effective).
• Closing Timeline: Expected on or about October 15, 2025, subject to regulatory approvals (TSX, NYSE) and completion of both offerings.
• Use of Proceeds: Advance engineering for Rook I, fund pre‑production capital expenditures, and support general corporate activities.
• Independence of Offerings: Completion of each offering is not conditional on the other; underwriters have no obligations to the counterpart offering.

Notable Quotes

(No direct quotes were provided in the release.)