10:35 AM EDT, 04/30/2024 (MT Newswires) -- NexGen Energy ( NXE ) was at last look down more than 5% on Tuesday after increasing the size of its offering of CHESS depositary interests in Australia to about C$224 million.

The offering, which is expected to close by May 15, now comprises about 20.2 million common shares at C$11.11 apiece.

The company intends to use the proceeds to fund the continued development and further exploration of its mineral properties and for general corporate purposes.

Additionally, the company, Virtu Canada Corp., as the Canadian agent, and Virtu Americas LLC, as the US agent, have agreed to amend the company's previously announced at-the-market program by reducing the total value of common shares that may be offered and sold to up to C$275.9 million from up to C$500 million in common shares. To date, about 13 million common shares of the company have been distributed under the ATM program for about C$134.9 million.

As a result of the amended sales agreement and taking into account the previous sales, the maximum amount of sales remaining under the ATM program will be about C$141 million.

Price: 10.88, Change: -0.66, Percent Change: -5.72