Shaw and Partners appointed Lead Manager to the Carbonxt Group capital raising News11 Oct 2018

Shaw and Partners is Lead Manager to a proposed capital raising by Carbonxt (ASX:CG1).

 

The raising will include a placement to sophisticated and professional investors (to raise up to $3.0 million), and the Company intends to offer existing shareholders the opportunity to participate in a 1:4 renounceable entitlement offer.

 

The New Shares to be issued under the Placement and under the Entitlement Offer will be issued at $0.40 per share.

 

The rationale for the capital raising is:

  • Carbonxt is experiencing higher than expected demand for its AC Pellet product.
  • To meet this demand the Company is building a new AC Pellet plant and optimising production at existing plants.
  • Total capex of A$4 million and working capital of A$2 million.
  • New facility expected to produce 3,500 tons p.a. of AC Pellets (A$13 million of revenue).
  • Current pipeline of demand is more than 7,000 tons p.a.
  • Target gross margin for AC Pellet product of 30%; minimal additional operating expenses required.

 

Offer is available to Australian resident Sophisticated and Professional Investor clients only.

 

For more information, please contact your Shaw and Partners Adviser.

Related Articles
News04 Dec 2018 Shaw and Partners successfully raises $30.7 million for Revasum
Shaw and Partners successfully raised $30.7 million for Revasum, which today listed on the ASX under code ASX:RVS.   The deal was strongly supported by both institutional and ret... Read More
News29 Nov 2018 Shaw and Partners appointed Joint Lead Manager to the proposed placement by Piedmont Lithium
Shaw and Partners has been appointed as Joint Lead Manager to the proposed placement by Piedmont Lithium (ASX.PLL) along with Canaccord Genuity (Australia) Limited and Aitken Murra... Read More
News28 Nov 2018 Meet Shaw and Partners Race Team member, Cory Hill.
Meet Shaw and Partners Race Team member, Cory Hill. An Accountant by day and 2 x Molokai winner, 2 x Word Champion Ocean Surf Ski paddler in his spare time.   Cory recently took... Read More
News27 Nov 2018 Shaw and Partners Race Team Member, Cory Hill wins “The Doctor” Ocean Surf Ski Race in Western Australia
Shaw and Partners is the sole headline sponsor of the 2018/19 Australian Ocean Racing Series season. On the 24th November 2018, the famous downwind race “The Doctor” took place in ... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%