Financing ·
Novonix repays $14M in convertible debentures, cuts cash to $33.7M as PowerCo deal restructured
NVNXFNOVONIX Ltd
Novonix repaid US$14 million in convertible debentures following an amortization event triggered by share price conditions, reducing its cash balance to US$33.7 million and leaving 3.4 quarters of runway. The company also amended its supply framework with PowerCo, removing volume commitments as the partner defers production to 2029. Additionally, Novonix secured ISO 9001 certification for its Tennessee facility and entered a non-binding MOU with ACP Technologies for domestic graphite development. The company manufactures synthetic graphite anode active materials for lithium-ion batteries.