We will get a look into the SPP..... Game Changer and this is just 1st gear..... What a company!! 10,000 T of anode material
Approximately $115 million fully underwritten placement to institutional and
sophisticated investors.
Placements of new shares to certain directors of NOVONIX or entities associated
with them to raise $16.45 million on a non-underwritten basis, subject to approval by
shareholders of NOVONIX and completion of the Institutional Placement and SPP.
Issue price of $2.90 per new share, representing a 11.9% discount to the closing
price of NOVONIX shares of $3.29 on 24 February 2021.
Non-underwritten share purchase plan (SPP) to raise approximately $15 million.
Funds raised will provide capex and working capital to scale production for
NOVONIX Anode Materials, fund R&D in cathode and other advanced battery
technologies, fund general corporate costs and provide flexibility to pursue
international growth opportunities.
Successful raising will allow NOVONIX to fund capex to increase production of
NOVONIX Anode Materials to 10,000 tonnes per annum.
Share Purchase Plan
A Share Purchase Plan (SPP) will follow the Institutional Placement with eligible NOVONIX
shareholders in Australia and New Zealand offered the opportunity to acquire additional
shares in NOVONIX. The SPP will not be underwritten.
Shareholders on the NOVONIX register at 7:00pm (Sydney time) on 24 February 2021
(Record Date) with a registered address in Australia or New Zealand will be entitled to
subscribe for up to $10,000 worth of NOVONIX shares per shareholder, free of transaction
and brokerage costs, through the SPP, subject to eligibility criteria and other terms and
conditions of the SPP which will be set out in the SPP booklet and dispatched to eligible
shareholders on or around 4 March 2021. Shares issued under the SPP will rank equally with
existing shares of NOVONIX.
The SPP aims to raise approximately $15 million. NOVONIX may decide to scale back
applications should it receive demand above that target or to issue a higher amount above the
target, at its absolute discretion (and, if a higher amount is issued, to either accept
applications in full or scale back applications, at its absolute discretion). New shares under the
SPP are to be issued at the Institutional Placement price of $2.90 per new share.
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