- Australian technology company Calix (CXL) set to raise up to $17 million to accelerate its environmental, social and governance projects
- $14 million will raised through a placement which will issue seven million shares at $2 per share marking an 11.1 per cent discount to the last close price of $2.25
- Additionally, Calix will launch a share purchase plan to raise a maximum amount of $3 million
- Calix will use the money to advance battery and lab equipment, fund two new plants, hire more engineers and conduct test work and feasibility studies
- Specifically, Calix will allocation portions of the raise capital to different lines of its business with advanced batteries receiving the most
- Company shares are down 1.78 per cent and are trading at $2.21
