Citi’s equities desk was wall-crossing investors on Wednesday for a capital raising in lithium-ion battery play Novonix.
As first reported by Street Talk, investor sources said Citi’s equity capital markets team was gathering support for a new cash call, after last raising for the company – a $115 million institutional placement at $2.90 a share – in February 2021. Since then, however, it has been a tumultuous time for Novonix.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
