Details of the Placement
The Placement received strong support from a network of sophisticated and high net-worth investors and family offices.
The Placement price of $0.065 represents a 9% discount to the 15-day Volume Weighted Average Price (VWAP) of CG1 shares to 19 September 2024, being the last trading day prior to the announcement of the placement. The Placement includes an attached unlisted, two- year option priced at $0.10 per ordinary share on a 1:2 basis. The options will be subject to approval by shareholders at the forthcoming Annual General Meeting.
A total of 46.4 shares will be issued on Tuesday 1 October 2024 and are expected to trade on Wednesday 2 October 2024.
Carbonxt Managing Director Warren Murphy said “We thank all existing shareholders for their strong support and welcome onboard a number of new shareholders. We expect to make a further payment to our Kentucky investment company, New Carbon Processing, LLC very shortly and look forward to the being able to update on the significant scale-up of our business as the plant comes on-line. Once again, we thank everyone for their support and look forward to a very exciting period for the Company as we add materially to production volumes and strengthen our position as a trusted and dependable supplier of premium Activiated Carbon products in the large United States market.”
This announcement has been authorised for release to ASX by the Board of Directors of Carbonxt Group Limited.
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