NexGen Energy closes $1B (Australian) equity offering

Executive Summary

• NexGen Energy Ltd. has closed a global equity offering with aggregate gross proceeds of approximately A$1 billion (C$950 million).
• The offering consisted of two tranches: North American shares sold on a bought-deal basis and Australian shares placed with institutional investors.
• Net proceeds will be used to advance engineering for the Rook I project, cover pre-production capital costs, and for general corporate purposes.

Key Details

• Total Gross Proceeds: Approximately A$1 billion (C$950 million).
• North American Tranche:
  • Quantity: 33,112,583 common shares.
  • Price: $12.08 per share.
  • Gross Proceeds: Approximately $400 million.
  • Underwriters: Led by Merrill Lynch Canada Inc., including Stifel Nicolaus Canada Inc., J.P. Morgan Securities Canada Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., and Canaccord Genuity Corp.
  • Structure: Sold on a bought-deal basis.
• Australian Tranche:
  • Quantity: 45,801,527 common shares, settled as Chess Depository Interests (CDIs).
  • Price: $13.10 (Australian) per CDI.
  • Gross Proceeds: Approximately $600 million (Australian).
  • Underwriters: Aitken Mount Capital Partners Pty. Ltd. (sole underwriter, joint lead manager, joint bookrunner) and Canaccord Genuity (Australia) Ltd. (joint lead manager, joint bookrunner).
  • Structure: Placed with institutional investors on an underwritten basis.
• Use of Proceeds: Advancing engineering of the Rook I project, Rook I pre-production capital costs, and general corporate purposes.
• Legal Counsel:
  • Company (General): Farris LLP.
  • Company (North American Offering): Dorsey Whitney LLP.
  • Company (Australian Offering): Allens.
  • Underwriters (North American Offering): Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP.
  • Australian Underwriter: Gilbert + Tobin.
• Regulatory Notes: CDIs and underlying Australian shares were issued without disclosure under the Australian Corporations Act 2001 (Cth) to sophisticated and professional investors.