NOVONIX Limited (ASX: NVX) has successfully secured A$20.7 million through an institutional placement and simultaneously launched a non-underwritten Share Purchase Plan (SPP) aiming to raise approximately an additional A$3.0 million before costs. The capital raise is primarily intended to fund crucial capital expenditure required to support production capacity and meet forecast customer demand. NOVONIX, a leading battery materials and technology company, focuses on building a resilient North American battery materials supply chain by producing high-performance synthetic graphite anode materials for lithium-ion batteries.
The institutional placement received firm commitments from institutional and sophisticated investors for fully paid ordinary shares at an offer price of A$0.16 per new share. This offer price represents a 33.3% discount to NOVONIX’s last traded price of A$0.24 on June 15, 2026, and a 31.2% discount to the 5-day volume weighted average price (VWAP) of A$0.23 up to the same date. Mike O’Kronley, Managing Director and CEO of NOVONIX, stated that this capital injection positions the company to continue investing in the production capacity necessary to support growing customer demand and execute its growth strategy.
Concurrent with the placement, NOVONIX is offering eligible shareholders the opportunity to subscribe for new shares under the SPP. Shareholders on the NOVONIX register at 7:00pm Sydney time on June 16, 2026, with a registered address in Australia or New Zealand, are entitled to acquire up to A$30,000 worth of shares at the same A$0.16 offer price. The issue of these SPP shares is conditional on the company receiving waivers from ASX Listing Rules 7.1 and 10.11, or, if waivers are not granted, obtaining shareholder approval. The SPP is scheduled to open on June 22, 2026, and close on August 14, 2026.
