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Carbonxt Group - Successful completion of Institutional Entitlement Offer


Highlights:

-- Cabonxt completed the Institutional Entitlement Offer component of its 1-for-4 partially underwritten, non-renounceable accelerated entitlement offer to raise a maximum of $6.6 million ($2.0 million underwritten) (Offer)
-- The Institutional Entitlement Offer raised approximately $0.4 million from existing institutional and wholesale investors
-- Proceeds from the Offer will be applied to construction and development of Carbonxt’s Kentucky-based Activated Carbon Pellet and Granular Activated Carbon processing plant in Joint Venture with private US investor KCP
-- In addition to the Offer, Carbonxt has signed term sheets for $5 million of convertible notes with two Australian institutional investors, and the extension of the PURE Asset Management debt facility by an additional $8.5 million
-- The Retail Entitlement Offer will open on Friday, 5 August 2022

Carbonxt Group Limited (ASX:CG1) (Carbonxt or Company) is pleased to announce the successful completion of the institutional component of the accelerated non-renounceable entitlement offer (Institutional Entitlement Offer), details of which were announced on Friday, 29 July 2022.

The Institutional Entitlement Offer raised $0.4 million and will result in the issue of approximately 2.9 million new fully paid ordinary securities in CG1 (New Securities) at an issue price of $0.14 per security (Offer Price).

For more information, download the attached PDF.

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