Maybe they need to stump up the cash for materials to build 2,000 batteries?
They expect to get $12M for the deal which amounts to $6,000 per battery. I'm not sure what the cost of building a battery is but the comment of "Redflow expects to generate a positive return at the project level" doesn't instill me with confidence (like, I fcking hope so!).
At any rate, even at $3K per battery, that leaves them needing $6M to build the things, and they've got about $9M in the bank. So they probably need more cash. Although I guess they did say they would be paid progressively.
What else could it be? Maybe they also want to expand the factory in Thailand to increase capacity? Maybe they want to build one in the US?
Ann: Trading Halt, page-8
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