Dosh
Below is a recap of one of my previous posts on HC. After the December quarterly was released 100% of the convertible notes were converted to shares and sales of the Battery testing equipment have hit a record high through strong demand.
Announcement from late December 2017 below states the small scale graphite anode plant was commissioned 4weeks ago and they will lift the output to 1000tpa by June 2018.
https://www.asx.com.au/asxpdf/20171228/pdf/43qhk8nq6ybbzd.pdf
A larger 100,000tpa plant is being planned as well.
There are only 135million shares outstanding, with management controlling 47% of them.
Novonix's September 2017 quarterly update below states that 98% of the shares that were in escrow were all converted to shares.
http://media.abnnewswire.net/media/en/docs/ASX-NVX-2A1046753.pdf
"NOVONIX announced that its balance sheet had been further strengthened and simplified with 98% of Convertible Notes issued in April 2017 having been converted to Ordinary Shares, resulting in the elimination of a significant redemption liability that was due to mature in the second quarter of 2018.
AGM presentation shows the following:
Shares on issue: 119.63million
Performance Rights: 1.56million
Options: 13.98
Total all shares/options: 135.17million.
Management and BOD own 45.61% of the company.
https://www.novonixgroup.com/announcements/
They have also brought Andrew Liveris (ex CEO of DowDupont) and Admiral Robert J Natter on the Novonix Board. Both invested $500k each last month into Novonix (In case you haven't heard of Mr Liveris and Admiral Natter bios are below)
https://www.novonixgroup.com/our-people/admiral-robert-j-natter/
https://www.novonixgroup.com/our-people/andrew-n-liveris-ao/
This was after a private placement at
$1.40 per share to raise $4m in Q4 2017.
September Quarterly Report
Following the
close of the September quarter, the Company announced a private placement of
A$4M through the issue of Ordinary Shares on 31 October. The placement to institutional investors and Sophisticated Investors, including clients of
Morgans Financial Limited (“Morgans”) received strong demand,
closing early and oversubscribed, and was completed at an issue price of $1.40 per share.
Morgans acted as the Participating Broker and Settlement Agent for the placement.
The placement follows the announcement of the future appointment of Andrew N. Liveris, AO and the recent appointment of Admiral Robert J. Natter, USN (Ret.) to its Board of Directors and is in addition to A$1M being invested by Mr Liveris and Admiral Natter previously announced (subject to Shareholder approval at the Company’s AGM on 21 November 2017).
The proceeds of the placement will fund the commencement of an in-house electrolyte development program (a potential complementary new product line), pursue strategic opportunities for NOVONIX Battery Testing Services including possibilities in the EV fastcharger sector, and to provide working capital for future growth opportunities.
NOVONIX announced that its balance sheet had been further strengthened and simplified with 98% of Convertible Notes issued in April 2017 having been converted to Ordinary Shares, resulting in the elimination of a significant redemption liability that was due to mature in the second quarter of 2018.
The Company held meetings with potential international customers, partners and key government agencies during the quarter in a number of countries.
A number of international and domestic institutional investors, sector-focused funds and analysts made contact with the Company during the quarter, and further domestic and international meetings are planned during the current quarter. FOR FURTHER INFORMATION Philip St Baker Managing Director Phone: +61 438 173 330 Email:
[email protected]Website:
www.novonixgroup.com
Im looking forward to Novonix growing as a company during.
G
(20min delay)