InvestmentJun 17, 2026, 06:31 AM
NOVONIX Raises A$20.7M Via Placement, Launches SPP
AI Summary
NOVONIX Limited announced a successful A$20.7 million institutional placement and the launch of a Share Purchase Plan (SPP) aimed at raising an additional A$3.0 million. The capital raised at A$0.16 per share, a discount to market prices, will fund capital expenditure for production capacity expansion to meet growing customer demand. Bell Potter Securities Limited served as the Lead Manager for the placement.
Key Highlights
- NOVONIX successfully raised A$20.7 million through an institutional placement.
- An additional A$3.0 million is expected from a Share Purchase Plan (SPP).
- The offer price for new shares is A$0.16 per share.
- This price represents a 31.2% discount to the 5-day VWAP and a 33.3% discount to the last traded price.
- Funds will be used for capital expenditure to support production capacity and meet customer demand.
- Bell Potter Securities Limited acted as Lead Manager for the placement, earning a 5% fee.
- The SPP is open to eligible Australian and New Zealand shareholders from June 22 to August 14, 2026.
- The company is seeking ASX waivers for the SPP discount, or shareholder approval if waivers are not granted.
Price Impact
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