I’d be very wary of Magnis’ numbers. It says $200m was invested in the plant, so take into account construction costs and a sizable 290 employees.
Also, keep in mind stage 1 production is for 3GW, and this equipment will only produce 1GW of that. So they haven’t even met their own stage 1 requirements yet, and I doubt they’re going to find the other 2GW for $5 million a pop in capex.
The waters are still somewhat muddy on the details of this transaction. MNS raised US$3.9 million Before costs in this CR, and it says Magnis and C4V will invest equally. Does that mean they’re fronting $2.5m USD each for this purchase?
Also, it states this purchase will result in an increased stake for MNS. If I’m a multi billion $ partner in this consortium, why would I sell equity to this minnow (MNS) so cheap? Someone trying to cut way back on their exposure/risk? And this means Magnis will have to front a much larger portion now when they fund the other 2GW they need for stage 1.
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