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Stock impact report

Novonix and Lithium Energy to combine natural graphite interests, plans IPO [Seeking Alpha]

NOVONIX Limited (NVX) 
Company Research Source: Seeking Alpha
Graphite, which the parties intend to list on the Australian Securities Exchange (“ASX”), battery technology Novonix said on Tuesday. The transaction is subject to the completion of the parties' due diligence enquiries, completion of the proposed initial public offering of Axon, and receipt of approval for the admission of Axon to the ASX. Axon proposes to undertake its IPO to raise a minimum of $15 million and up to $25 million at an issue price of $0.20 per share. The proposed IPO will include a priority offer to both eligible Novonix and eligible Lithium Energy shareholders, as well as a public offer to other new investors. The Axon prospectus for the proposed IPO is expected to be issued in approximately 6 to 8 weeks. Upon completion of the proposed IPO, Novonix and Lithium Energy will each retain up to 28.57% of the shares in Axon, with the remaining shares to be held by investors in the IPO. Source: Press Release Recommended For You More Trending News Recommended Show less Read more
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