NexGen Announces Upsized C$224 Million CDI Offering In Australia
Portfolio Pulse from Benzinga Newsdesk
NexGen Energy Ltd. (NXE) has upsized its Australian offering to 20,161,290 common shares at C$11.11 each, totaling approximately C$224 million. The offering aims to enhance liquidity and market capitalization of its CDIs on the ASX. Proceeds will fund development and exploration of mineral properties. The offering, expected to close on May 15, 2024, is subject to TSX and NYSE approvals and certain conditions. Shares will be issued under a prospectus supplement to NexGen's base shelf prospectus.
April 30, 2024 | 1:29 pm
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NexGen Energy Ltd. announces an upsized offering in Australia to raise C$224 million, enhancing liquidity and market cap of its CDIs on the ASX. Proceeds will support mineral property development.
The upsized offering is likely to have a positive short-term impact on NXE's stock price due to the increased liquidity and market capitalization. The use of proceeds for development and exploration is positive for the company's growth prospects.
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