Institutional Investors already participated in the CR and are most likely a large part of the increased volumes since the Convertible Notes are now shares in NVX.
https://au.finance.yahoo.com/news/novonix-ltd-asx-nvx-successful-051100751.htmlThe Entitlement Offer comprises an accelerated institutional component (Institutional Entitlement Offer) and a retail component (Retail Entitlement Offer).
"A total of approximately 82.69 million New Shares will be issued to successful applicants under the Institutional Placement and the Institutional Entitlement Offer at an issue price of $0.29 per New Share (Offer Price)."
$4.5+million worth of trades today. Impressive to say the least.
It does look like Institutional Investors/High Net Worth Investors who missed out on getting as many shares as they wanted in the CR are trying to get into NVX before any of these Supply Agreements are announced and before it gets to $100m market cap....that's when we see some serious $$$ buy into at market.
When you have a CR that 100% Fully Underwritten by Institutional Investors in a company that already has global sales, we should expect some serious share price rises as additional milestone announcements are made....
Recent share price increase, page-19
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54.5¢ |
Change
-0.005(0.91%) |
Mkt cap ! $269.0M | |||
| Open | High | Low | Value | Volume |
| 55.5¢ | 55.5¢ | 54.5¢ | $367.4K | 669.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 160235 | 54.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 55.0¢ | 35510 | 2 |
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