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Novonix Raises Nearly AU$963,000 Through Share Purchase Plan

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Novonix (ASX:NVX) secured AU$962,600 before costs through its share purchase plan, with around 89 eligible shareholders subscribing for about 6 million new shares at AU$0.16 each, according to a Tuesday Australian bourse filing.

The proceeds will be used to fund capital expenditure aimed at expanding production capacity to meet forecast customer demand, per the filing.

The new shares are scheduled to be issued on Wednesday, commence trading on the Australian Securities Exchange on Thursday, and will rank equally with the company's existing ordinary shares, the filing added.

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