NOVONIX Limited (ASX: NVX), following its conditional contract with international battery manufacturer, Samsung SDI that was announced earlier, it is undertaking a Share Purchase Plan. The shares under the share purchase plan would be issued at $0.51 per share.
Under the share purchase plan, those eligible shareholders with registered address in Australia and New Zealand on 13 December 2019 would be able to acquire new shares up to ~ $30,000 at a discount and without any brokerage or transaction cost.
Eligible shareholders will be able to subscribe for the shares in multiple of $5,000.
70% of the funds raised would be directed towards the working capital to support in the Samsung SDI contract while remaining 30% would be used for continued R&D to enhance manufacturing process and product.
At AEDT 1:28 PM, the stock is trading at $0.53, down 4.505% from its previous close.
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