CAPITAL MARKETS

Magnis' New York battery venture gets part-funding

MAGNIS Energy Technologies is set to raise further funding this quarter after today unveiling a A$34 million placement to undisclosed investors, with funds earmarked to kickstart in New York "one of the largest lithium-ion battery plants in the United States" later this year.

Magnis is part of a New York battery venture, USA

Magnis is part of a New York battery venture, USA

The $34 million in new equity is being priced at 28c per share. Magnis shares have spent much of the past six months trading at levels around 20c, and at less than 10c for much of the first half of...

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