NOVONIX Limited (ASX: NVX) Announces Oversubscribed Share Purchase Plan Results
Share Purchase Plan Overview
NOVONIX Limited (ASX: NVX) has announced the successful closing of its Share Purchase Plan (SPP), which attracted valid applications for 68.6 million shares to raise A$41.2 million before costs. The share price for the SPP was set at A$0.60 per share, allowing eligible shareholders to apply for up to A$30,000 worth of shares. The strong shareholder interest led to significant oversubscription, prompting NOVONIX to increase the total raise to A$32.3 million, well above the initial target of A$5 million.
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