NexGen closes $110M convertible debenture financing

VANCOUVER — NexGen Energy Ltd., has closed its previously announced non-brokered private placement of US$110 million aggregate principal amount of unsecured convertible debentures with Queen’s Road Capital Investment Ltd. (QRC) and Washington H Soul Pattinson and Company Limited (WHSP).

The debentures carry a 9.0 per cent coupon, have a maturity date of September 22, 2028, and are convertible at the holder’s option into common shares of NexGen at a conversion price of US$6.76 per common share, representing a 30 per cent premium to the volume-weighted average trading price of the common shares 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.

The Interest is payable semi-annually in arrears beginning on December 10, 2023. Two-thirds of the Interest (equal to 6 per cent per annum) is payable in cash. One-third of the Interest (equal to 3 per cent per annum) is payable in common shares issuable at a price equal to the 20-day VWAP on the New York Stock Exchange ending on the third trading day prior to the date such Interest is due.