Company sells 7.5% five-year unsecured convertible debentures in deal
By Devika Patel
Knoxville, Tenn., June 2 – NexGen Energy Ltd. said it plans a $60 million private placement of 7.5% five-year unsecured convertible debentures with CEF Holdings Ltd.
The convertible debentures may be converted into common shares at $2.33, a 28.02% premium to the June 1 closing share price of $1.82. The purchase price is also a 30% premium to the 20-day volume-weighted average trading price, the company said in a press release. The debentures may be redeemed after three years.
Proceeds will be used for exploration and development and general corporate purposes.
The uranium exploration company is based in Vancouver, B.C.
| Issuer: | NexGen Energy Ltd.
|
| Issue: | Unsecured convertible debentures
|
| Amount: | $60 million
|
| Maturity: | Five years
|
| Coupon: | 7.5%
|
| Conversion price: | $2.33
|
| Conversion premium: | 28.02%
|
| Call: | After three years
|
| Warrants: | No
|
| Investor: | CEF Holdings Ltd.
|
| Pricing date: | June 2
|
| Stock symbol: | OTCBB: NXGEF
|
| Stock price: | $1.82 at close June 1
|
| Market capitalization: | $582.02 million
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
