Brisbane, Australia, June 30, 2020 - (ABN Newswire) - NOVONIX Limited (ASX:NVX.AX - News) (HAM:GC3.F - News) 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:
About NOVONIX Ltd:
NOVONIX Limited (ASX:NVX.AX - News) (FRA:GC3.F - News) 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 14 countries.
NOVONIX is majority-owner of the PUREgraphite battery anode material Joint Venture, headquartered in Chattanooga, Tennessee, USA.
NOVONIX's mission is to accelerate the adoption of batteries for a cleaner energy future.
Philip St Baker
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