{"id":7426,"date":"2024-08-07T01:42:57","date_gmt":"2024-08-07T01:42:57","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/08\/07\/altech-batteries-ltdentitlement-offer-and-share-placement\/"},"modified":"2024-08-07T01:42:57","modified_gmt":"2024-08-07T01:42:57","slug":"altech-batteries-ltdentitlement-offer-and-share-placement","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/08\/07\/altech-batteries-ltdentitlement-offer-and-share-placement\/","title":{"rendered":"Altech Batteries LtdEntitlement Offer and Share Placement"},"content":{"rendered":"
Perth, Australia (ABN Newswire) \u2013 Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) announces a total capital raising of up to approximately $8.9 million, comprising the issue of up to 223,946,491 fully paid ordinary shares in the capital of the Company (Shares) at an issue price of $0.04 per Share (\u2018Capital Raising\u2019). Participants in the placement and Entitlement Offer will also receive free attaching options on the basis of one (1) option for every two (2) shares held, with each option having an exercise price of $0.06 and expiry date of 31 December 2025. <\/p>\n

Highlights <\/p>\n

\u2013 Launch of $8.5 million pro-rata Entitlement Offer to existing eligible shareholders <\/p>\n

\u2013 Entitlement Offer partially underwritten for $5 million by existing shareholder MAA Group Berhad, an entity related to Altech director Tunku Yaacob Khyra <\/p>\n

\u2013 Altech additionally raises $405,000 through a placement to sophisticated and professional investors <\/p>\n

\u2013 Participants in placement and Entitlement Offer to receive free attaching options on the basis of 1 option for every 2 shares held with exercise price of $0.06 and expiry 31 December 2025 <\/p>\n

\u2013 Application will be made to ASX for listing of shares and options <\/p>\n

\u2013 Funds will be used to further progress the CERENERGY(R) and Silumina AnodesTM Projects <\/p>\n

Managing Director Mr Iggy Tan stated \u2018We are pleased with the outcome of the capital raise, and to have Altech director and Malaysian Prince Tunku Yaacob Khyra\u2019s related entity, major shareholder MAA Group Berhard, partially underwrite the Entitlement Offer for $5.0 million, is very pleasing. The capital raising has come at an exciting time for Altech, as we progress with the commercialisation of the 120MWh CERENERGY(R) battery project, as well as commissioning of our Silumina AnodesTM pilot plant\u2019. <\/p>\n

*To view the timetable, please visit:
https:\/\/abnnewswire.net\/lnk\/756P734E <\/p>\n

About Altech Batteries Ltd: <\/p>\n

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (\u2018Fraunhofer\u2019) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns. <\/p>\n

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech\u2019s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market. <\/p>\n

Source:
Altech Batteries Ltd <\/p>\n

Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com <\/p>\n

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com <\/p>\n<\/div>\n

News Provided by ABN Newswire via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Perth, Australia (ABN Newswire) \u2013 Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) announces a total capital raising of up to approximately $8.9 million, comprising the issue of up to 223,946,491 fully paid ordinary shares in the capital of the Company (Shares) at an issue price of $0.04 per Share (\u2018Capital Raising\u2019). Participants in the placement and […]<\/p>\n","protected":false},"author":0,"featured_media":7427,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-7426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/7426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=7426"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/7426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/7427"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=7426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=7426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=7426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}