Completion of Equity Raising and Capital Restructure
Brisbane, June 30, 2020 AEST (ABN Newswire) - NOVONIX Limited (
ASX:NVX) (GC3:FRA) is pleased to advise that following Shareholder approval at a General Meeting of Shareholders this morning, the Equity Raising announced on 29 May 2020 is now complete with $63 million having been raised.
As foreshadowed, all outstanding convertible notes have been redeemed and all short-term loans from Directors and related parties have been repaid. As previously advised, 40.5 million Options over new shares in NOVONIX have also been cancelled as part of the broader transaction.
Novonix Chairman, Tony Bellas, said: "Today's General Meeting completes the capital raising process and restructuring of the company's balance sheet to enable it to execute its strategy to become a market leading producer of high performance and competitively priced battery anode materials for lithium ion batteries for electric vehicles (EVs) and energy storage systems (ESS)."
"We are also well placed to progress the commercialisation of our other breakthrough technologies, in particular, single crystal cathode materials using our proprietary DPMG technology."
"We welcome our new strategic and institutional investors to the NOVONIX share register during this exiting phase for the Company," Mr Bellas Said.
To view the updated Capital Structure, please visit:
https://abnnewswire.net/lnk/9XSZ8C3Y
About NOVONIX Limited
NOVONIX Limited (ASX:NVX) (FRA:GC3) (OTCMKTS:NVNXF) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14 countries. NOVONIX's mission is to support the global deployment of lithium-ion battery technologies for a cleaner energy future.
| ||
|
