Shaw and Partners appointed as Joint Lead Manager to the proposed capital raising by Carbonxt Group News01 Aug 2022

Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed capital raising by Carbonxt Group Ltd (ASX.CG1)

 

Carbonxt Group is seeking to raise up to approximately A$6.6 million by issuing up to approximately 47.4 million new ordinary fully paid shares issued at A$0.14 per share by way of a 1-for-4 partially underwritten, non-renounceable accelerated entitlement offer to raise up to a maximum of $6.6 million ($2.0 million underwritten).

 

The Issue Price represents a 6.7% discount to CG 1 ’s closing share price on Thursday 28 July 2022 of 0 15 per share, 10.1% discount to CG 1 ’s 10 day VWAP on Thursday 28 July 2022 of 0 156 per share and a 5.4% discount to TERP 1 of 0 148 per share.

 

Funds raised under the offer will be used to fund the capital expenditure requirements for the state of the art Kentucky facility currently under construction. The new Kentucky facility is expected to be the greenest and most sustainable production facility of specialty activated carbon anywhere in the world. Supporting the new Kentucky facility and Joint Venture, Carbonxt has also announced new contracts for 2,400 tons.

 

Carbonxt Group Limited develops and sells specialized activated carbon (AC) products for the removal of pollutants and toxins in industrial processes in the United States.

 

The offer is available to Australian Sophisticated and Professional Investors only.

 

For more information pleased get in touch with a Shaw and Partners Adviser.

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