Novonix (ASX:NVX) said it received waivers from the Australian Securities Exchange to execute a share purchase plan at an issue price of AU$0.16 per share without shareholder approval, according to a Monday filing with the bourse.

The waivers will allow the shares to be excluded from calculating the company's available placement capacity, and its directors will be able to participate in the share purchase plan, per the filing.

The waivers are conditioned on the issue price of the shares being at least AU$0.16 each, and the number of shares to be issued under the plan must not surpass 30% of the company's shares on issue.

Novonix said seeking shareholder approval would have delayed the share purchase plan and prevented it from offering the shares on the same terms as a separate institutional placement.