NOVONIX (ASX:NVX) said it issued the first tranche of 24.5 million convertible debentures to YA II PN, an investment fund managed by Yorkville Advisors Global, to raise up to a total of $23.3 million under a funding agreement, according to a same-day Australian bourse filing.
It said that the fully-paid ordinary shares of the firm issued on the conversion of the unsecured convertible debentures issued by the firm will be sold to retail investors.
Its shares fell 4% in recent trading on Friday.
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