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NexGen Closes US$110 Million Strategic Convertible Debenture Financing
NexGen Closes US$110 Million Strategic Convertible Debenture Financing Canada NewsWire ...
About this update from Nexgen Energy Ltd.
[{"type":"text","content":"\n \n \n \n NexGen Closes US$110 Million Strategic Convertible Debenture Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Sept. 22, 2023\n \n \n /CNW/ -\n \n NexGen Energy Ltd. (\"NexGen\" or the \"Company\")\n \n (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that it has closed its previously announced non-brokered private placement (the \"\n \n Offering\n \n \") of\n \n US$110 million\n \n aggregate principal amount of unsecured convertible debentures (the \"\n \n Debentures\n \n \") with Queen's Road Capital Investment Ltd. (\"\n \n QRC\n \n \") and Washington H Soul Pattinson and Company Limited (\"\n \n WHSP\n \n \").\n \n \n NexGen currently has cash reserves of\n \n C$330 million\n \n .\n \n \n \n Terms of the Debentures\n \n \n \n The Debentures carry a 9.0% coupon (the \"\n \n Interest\n \n \"), have a maturity date of\n \n September 22, 2028\n \n , and are convertible at the holder's option into common shares of NexGen (the \"\n \n Common Shares\n \n \") at a conversion price (the \"\n \n Conversion Price\n \n \") of\n \n US$6.76\n \n per Common Share, representing a 30% premium to the volume-weighted average trading price of the Common Shares (the \"\n \n VWAP\n \n \") on the Toronto Stock Exchange for the five trading days prior to the entering into of the previously announced binding term sheets with respect to the Debentures.\n \n \n The Interest is payable semi-annually in arrears beginning on\n \n December 10, 2023\n \n . Two-thirds of the Interest (equal to 6% per annum) is payable in cash. One-third of the Interest (equal to 3% per annum) is payable in common shares issuable at a price equal to the 20-day VWAP on the New York Stock Exchange (the \"\n \n NYSE\n \n \") ending on the third trading day prior to the date such Interest is due.\n \n \n The Company is entitled, on or after the third anniversary of the issuance of the Debentures, at any time that the 20-day VWAP on the NYSE exceeds 130% of the Conversion Price, to redeem the Debentures at par ...