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Nano One Materials closes upsized financing of C$14.4 million

The technology firm plans to use the funds to finance research and development of its high-performance lithium ion battery cathode materials

Nano One Materials Corp. -
The offering was originally set to raise around C$10 million, which was then bumped up to $12.5 million before closing around $14.37 million

Nano One Materials Corp (CVE:NNO) (OTCPINK:NNOMF) announced Thursday it had closed its upsized private placement of C$14.4 million.

The technology firm plans to use the funds to finance research and development of its high-performance lithium ion battery cathode materials to be used in electric vehicles, energy storage and consumer electronics.

The offering was originally set to raise around C$10 million, which was then bumped up to $12.5 million before closing around $14.37 million.

READ: Nano One Materials upsizes previously announced offering to C$12.5M to fund research and development

Under the terms of the offering, Nano One issued a total of nearly 5.3 million units priced at C$2.32 per unit, including 686,900 units issued pursuant to the overallotment option. Each unit comprises one company share and one-half of a share purchase warrant. Each whole warrant entitles the holder to buy one share for C$3.55 for 24 months from closing.

Eight Capital and Gravitas Securities Inc acted as co-lead agents and joint bookrunners, and received a cash fee of C$862,000, 422,632 compensation warrants and 79,242 shares to satisfy a corporate finance fee in connection with their efforts. The warrants are exercisable under the same terms outlined in the offering.

Contact Angela at angela@proactiveinvestors.com

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Nano One beefs up Automotive Project by adding Industrial Scale engineering...

Nano One Chief Operating Officer Alex Holmes joined Steve Darling from Proactive to bring news the company, which is already doing a cathode material evaluation program with a multinational automotive company, will now expand the program to include an engineering cost model report on the...

on 18/8/21

2 min read