NexGen Energy (ASX:NXG) has attained $1 billion in an equity offering to advance the engineering of the Rook I Uranium Project in the southwestern Athabasca Basin of Saskatchewan, Canada.
The offering comprised the issue of 33.11 million shares to a syndicate of underwriters led by Merrill Lynch Canada in the North American offering, and another 45.8 million shares settled as CHESS depository interests (CDI) to investors and underwritten by Aitken Mount Capital Partners in the Australian offering.
The North American offering raised C$400 million ($438.74 million), through the issue of shares at C$12.08, while Australian investors raised the remaining $600 million through CDIs issued at $13.10.
North American underwriters include Stifel Nicolaus Canada, JP Morgan Securities Canada, BMO Nesbitt Burns, National Bank Financial, RBC Dominion Securities, and Canaccord Genuity.
Along with Aitken Mount, Canaccord Genuity acted as the joint lead manager and joint bookrunner for the Australian offering.
The completion of this placement marks over subscription from investors as NexGen originally intended to reel in $800 million through the two offerings, as reported by Mining.com.au.
The company will use proceeds to cover engineering costs at the Rook I Project, as well as covering pre-production costs.
The Rook I Uranium Project is currently undergoing camp commissioning to establish a temporary exploration airstrip for an additional 373 beds and site access improvements.
NexGen Energy is a Canadian miner focused on delivering clean fuel from its assets to align with the energy transition.
Write to Maddison Elliott at Mining.com.au
Images: NexGen Energy
