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Livium Ltd (ASX: LIT) (“Livium” or the “Firm”) is happy to announce it has obtained agency commitments from new and current, institutional and complicated traders to lift $4.5m (“Placement”) earlier than prices.
Highlights
- Agency commitments of A$4.5m obtained from institutional and complicated traders to speed up battery recycling, pursue REE and PV recycling, and black mass processing
- Whole investor demand exceeding 200% of the ultimate placement worth following affirmation of Livium’s core give attention to recycling clear power waste 1
- Funds raised from the Placement will help the growth of battery collections and relocation and consolidation of operations into a brand new, centralised processing Hub
- Funds may also help key deliverables to advance strategic recycling adjacencies together with REE and PV recycling, and black mass processing
- Main Melbourne-boutique, Peak Asset Administration led the position course of
Livium CEO and Managing Director, Simon Linge commented:
“The robust help for this capital elevating marks a key inflection level for Livium. By means of disciplined execution, we now have constructed Australia’s market-leading lithium-ion battery recycling operations and are actually poised to scale additional to satisfy rising market demand.
The proceeds from this Placement will speed up our refined technique, centered on recycling clear power waste. The deliberate consolidation of operations right into a single Hub will improve capability and effectivity in battery recycling whereas offering area to develop into new verticals together with uncommon earth factor (REE) recycling, photovoltaic (PV) recycling, and black mass processing — all pursued with a measured method.
I want to thank our traders and Peak for his or her continued help. Collectively, we goal to construct Livium right into a money generative, growth-focused firm that captures worth throughout the clear power waste provide chain and delivers sustainable returns for shareholders.
Use of funds
Proceeds from the capital elevating can be used to advance Livium’s recycling-led progress technique and strengthen its place as Australia’s main lithium-ion battery recycler. Funding will help the growth of large-format LIB2 collections nationally, and the relocation and consolidation of Livium’s Victorian battery-recycling amenities right into a centralised processing facility (Hub).
Capital may also be utilized in direction of progressing key deliverables inside Livium’s strategic recycling adjacencies — together with recycling of uncommon earth components (REE) and photo voltaic panels (PV), and black mass processing — to seize further worth throughout the clear power waste provide chain. Remaining funds can be utilized to normal working capital to maintain operational supply.
Click on right here for the complete ASX Launch
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