NOVONIX has received firm commitments for an institutional placement raising A$20.7 million and has launched a non-underwritten share purchase plan (SPP) that, if fully subscribed, would raise a further A$3.0 million before costs. The company said funds from both will be applied towards capital expenditure required to support production capacity and meet forecast customer demand.

The Brisbane-headquartered, Chattanooga-based company produces synthetic graphite anode materials for lithium-ion batteries and describes itself as building a resilient North American battery materials supply chain.

The Announcement

NOVONIX said it had received firm commitments from institutional and sophisticated investors for fully paid ordinary shares at an offer price of A$0.16 per new share, issued under the company’s existing 15% placement capacity under ASX Listing Rule 7.1. The placement was made through remaining capacity of ~129.3 million shares.

The company said the offer price represented a 33.3% discount to its last traded price of A$0.24 on 15 June 2026, and a 31.2% discount to the five-day volume weighted average price (VWAP) of A$0.23 to the same date. Bell Potter Securities Limited acted as Lead Manager for the placement and will receive a fee of 5% of funds raised. New shares issued under both the placement and SPP will rank equally with existing fully paid ordinary shares from the date of issue.

Under the SPP, shareholders on the register at 7:00pm Sydney time on 16 June 2026 with a registered address in Australia or New Zealand are entitled to subscribe for up to A$30,000 worth of shares at the same A$0.16 offer price, free of transaction and brokerage costs.

Because that price sits at a discount greater than the maximum 20% allowable under the Listing Rules, the company said it intends to apply for waivers of ASX Listing Rules 7.1 and 10.11. If the waivers are not granted, the issue of SPP shares would be conditional on shareholder approval, which the company said it would seek at a general meeting convened during the offer period.

This capital raise positions the Company to continue investing in the production capacity required to support forecast customer demand. Expanding our capacity is an important step in executing our growth strategy and reinforcing our ability to supply high-quality material to strategic customers as demand continues to increase. Mike O’Kronley, Managing Director and CEO of NOVONIX

What Comes Next

NOVONIX set out the following indicative timetable (all dates Sydney time):

1. Settlement of placement shares on 19 June 2026, with allotment on 22 June 2026.
2. Dispatch of the SPP booklet and opening of the SPP on 22 June 2026.
3. SPP closing at 5:00pm on 14 August 2026.

The company said it may scale back applications if demand exceeds the A$3.0 million target, or issue a higher amount, at its discretion. All dates are indicative and subject to change.

Background

NOVONIX, which trades under the ticker NVX on both the ASX and NASDAQ, is a battery materials and technology company headquartered in Chattanooga, Tennessee. It produces high-performance synthetic graphite anode materials for lithium-ion batteries serving energy storage, electric vehicle and industrial markets, and frames its strategy around reducing supply-chain risk and supporting US energy independence.

The announcement was authorised for release by Ron Edmonds, Chairman. The company noted that statements regarding future production capacity, customer demand and the completion of the SPP are forward-looking, and that actual results may differ.