ChemX Materials (ASX: CMX), a materials technology company focused on providing critical materials required for electrification and decarbonisation, has advised that its pro-rata non-renounceable entitlement issue of one option for every four shares, at a nominal issue price of $0.005 per new option, and the secondary offer of 1,500,000 options to Amvest Capital Principal Strategies closed on July 4.
The loyalty options offer closed well oversubscribed. New options to be issued with an exercise price of $0.30 and a three-year expiry date. Adviser options will be issued with an exercise price of $0.40 and a three-year expiry date
“The Company is pleased with the support from shareholders for the Loyalty Options issue,” ChemX managing director David Leavy said.
“The options enable shareholders to further support ChemX by providing the company with a potential source of future capital for the development of our HiPurA HPA, Jamieson Tank battery manganese and Kimba kaolin/rare earths projects.”
ChemX received applications to subscribe for 26,582,274 new options from eligible shareholders under the loyalty options offer. This represents approximately 117% of all new options offered under the loyalty options offer.