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4.2¢ magnis energy technologies ltd

Great post - and completely agree.

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notlistening14

2,216 Posts.

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17/03/23

22:12

Post #: 66833359
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Originally posted by jdpc35 ↑

On my read, they seem to have negotiated a $0.345 (approx.) share price floor via the maximum number of new Magnis shares potentially issuable to SBC being 145,500,000 (divided into $50m = 34.36).

$25m (and up to $50m) cash to accelerate AAM progress + Nachu. This show of equity strength plus cash in bank will support the debt raise component for AAM and should allow that to be fully funded in time to meet its initial obligations to Tesla.

My take of the landscape:

iM3NY - certification is the big blocker. Once achieved, we should see very quick movement on the funding fronts (debt and equity)

AAM - - today's announcement largely takes a near term risk component off the table. Still much to do but is now incrementally more certain (I have no qualms on their ability to sort out the site by 30th June). I suspect this cash will be prioritized towards the AAM project.

Nachu - still a work in progress for funding, but with the AAM plus prior offtake agreement, market demand is firmed up and now rests with getting a funding deal in place (expecting this will be a deal that also involves export credit agency backing given the supply into the US domiciled AAM).

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Great post - and completely agree.

MNS Price at posting: 31.5¢ Sentiment: Buy Disclosure: Held
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