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NextSource Announces Overnight Marketed Offering
NextSource Announces Overnight Marketed Offering Canada NewsWire /NOT FOR DIS...
About this update from Nextsource Materials Inc
[{"type":"text","content":"\n \n \n \n NextSource Announces Overnight Marketed Offering\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n July 12, 2023\n \n \n /CNW/ - (TSX: NEXT) (\"\n \n NextSource\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that is has filed a preliminary short form prospectus in connection with an overnight marketed public offering (the \"\n \n Offering\n \n \") of common shares (the \"\n \n Securities\n \n \") from the treasury of the Company. The Offering will be conducted through a syndicate of underwriters co-led by Cormark Securities Inc. and BMO Capital Markets (collectively, the \"\n \n Underwriters\n \n \").\n \n \n The price per Security and size of the Offering will be determined in the context of the market at the time of entering into a definitive underwriting agreement between the Company and the Underwriters. The Company will also grant the Underwriters an option (the \"\n \n Over-Allotment Option\n \n \") to purchase up to an additional 15% of the Securities of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.\n \n \n Closing of the Offering is expected to occur on or about\n \n August 1, 2023\n \n and is subject to regulatory approval, including that of the Toronto Stock Exchange.\n \n \n The net proceeds of the Offering are intended to be used by the Company: (1) to advance and complete construction of a battery anode facility in\n \n Mauritius\n \n ; (2) for project development and technical studies for additional battery anode facilities in key geographic locations; and (3) for general corporate and working capital purposes, as to be described in the Prospectus (as defined below).\n \n \n The Securities to be issued under the Offering will be offered by way of a final short fo...