Materials technology business Calix was expected to launch an equity raising on Thursday morning, after securing a global agreement with cement bigwig Heidelberg Materials.

Street Talk understands Calix was after $60 million at $4.55 a share, which was an 11.1 per cent discount to the last close.

Funds raised would be used to commercialise Leilac’s cement and lime decarbonisation technology and construct a lithium salt demonstration processing plant with Pilbara Minerals, according to terms sent to fund managers.

Calix owns a 93 per cent stake in Leilac, a subsidiary focused on decarbonisation of cement and lime.
Heidelberg, one of the world’s biggest cement makers, signed a global licence agreement to use Leilac’s technology. The licence was announced with the raising.

Canccord Genuity and UBS were the joint lead managers and underwriters, while Bell Potter Securities and Shaw and Partners were the co-managers.

Calix’s brokers were calling for bids by close of business on Wednesday. They were also seeking buyers for $2.4 million worth of shares owned by Calix’s boss Phil Hodgson and chief scientist Mark Sceats.

The fixed price deal was at an 11.1 per cent discount to the last close, the term sheet said.

The company had an $827 million market capitalisation at last close. It offers solutions in water treatment, crop protection, marine coatings, cathode and anode materials for batteries, and mineral and chemical processing.