Share Purchase Plan Deferral
NOVONIX also announced on 25 February 2021 that it would offer eligible shareholders the opportunity to acquire additional shares under a Share Purchase Plan (SPP).
Following significant fluctuation in the NOVONIX share price since the announcement of the SPP, the NOVONIX Board has determined that it would be in the interests of shareholders to defer the SPP until the NOVONIX share price stabilises.
When and if the SPP proceeds, the key terms and conditions will remain unchanged. In particular:
? The record date will continue to be 7:00pm (Sydney time) on Wednesday 24 February 2021.
? The issue price for each share issued under the SPP will be A$2.90, being the Institutional Placement price.
? The amount sought to be raised under the SPP is still expected to be A$15m (although depending on the level of demand under the SPP, NOVONIX may decide to scale back applications, or raise an amount higher than A$15m, in its absolute discretion).
The opening and closing dates for the SPP will change. NOVONIX will let shareholders know these dates once they have been decided.
The Board reserves the right to not proceed with the SPP if it considers it inappropriate to do so.
About NOVONIX Ltd
NOVONIX Ltd (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.