Australia's largest stock trading and investment forum Australia's #1 stock forum

MNS

Click for more information

0.00%

4.2¢ magnis energy technologies ltd

Ann: Suspension and Transaction Update, page-168

First 168 Last

Share
Profile

Follow
oilman01

5,710 Posts.

470

12/04/24

11:35

Post #: 73312264
Share

Originally posted by Recoba20: ↑

Magnis is expecpted to reveal it has secured $20 million via a convertible note issue, as early as Monday, after the best part of a week off the ASX boards. Sources said the raising was backed by Hancock-advised New York fund manager and venture capitalist Lind Partners.Hancock, a special adviser to Lind, is a lithium-ion bull, after buying into Vulcan at 40¢ and turned a $4 million investment into $65 million. Vulcan rallied to $9.80 last week, before also heading into a trading halt as worked on a binding offtake agreeement.Magnis, which had a market cap of $230 million ahead of its shares being suspended, has aggressive growth plans. The bulk of the new capital is expected to head towards its majority-owned iM3NY, which is building a lithiu-ion battery plant in New York. (iM3NY is also working on its own potential IPO, slated for later this year).It’ll be interesting to see if Gina Rinehart, the nation’s richest person, joins the Magnis register. She jumped into Vulcan after it became public her eldest son had grabbed a slice.

Expand

really when are we going to take photo with Musk?

MNS Price at posting: 4.2¢ Sentiment: None Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

Week 29 Wrap: Trump in spotlight again; China's Third Plenum a yawnfest; RBA's August move a mystery

AI stocks: What to expect in 2024-25

Wealth Within considers potential takeover targets in Australia's booming infrastructure industry

Talking Australia's very competitive property landscape: Realty Talks

Warren Tredrea’s weekly sports business wrap: the latest on business in sport

FG1

Flynn Gold flags mid-grade drill hits and always eye-catching rock chips

GNX

NSW approves J-POWER's $380M buyout of Genex Power, giving it ownership of QLD net zero project

MCT

Metalicity looking for offers on Admiral Bay zinc project

IMR

Imricor raises $35M to pursue growth and expansion into Australia and NZ

LKE

Lake Resources implies news article on job cuts made up; non-core sales "not material" and no rule 15.7 breach

There are more pages in this discussion • 1 more message in this thread...

First 168 Last

Add MNS (ASX) to my watchlist