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NextSource Announces Pricing of Overnight Marketed Offering
NextSource Announces Pricing of Overnight Marketed Offering Canada NewsWire /...
About this update from Nextsource Materials Inc
[{"type":"text","content":"\n \n \n \n NextSource Announces Pricing of 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 13, 2023\n \n \n /CNW/ - (TSX:NEXT) (\"\n \n NextSource\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has priced its previously announced overnight marketed public offering (the \"\n \n Offering\n \n \"). Pursuant to the Offering, NextSource will issue 30,303,500 common shares of the Company (each a \"\n \n Share\n \n \") at a price of\n \n C$1.65\n \n per Share (the \"\n \n Offering Price\n \n \") for gross proceeds of approximately\n \n C$50 million\n \n . The Offering is being 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 In addition, the Company has granted the Underwriters an option (the \"\n \n Over-Allotment Option\n \n \") to purchase up to an additional 15% of the number of Shares issued under 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 Vision Blue Resources Ltd. has confirmed its intention to participate in the Offering to maintain its pro rata ownership in the Company. 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 to advance and complete construction of a battery anode facility in\n \n Mauritius\n \n and other matters 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 form prospectus (the \"\n \n Prospectus\n ...