Magnis Energy Technologies Limited announced that it expects to receive AUD 25 million in funding from SBC Global Investors

Magnis Energy Technologies Limited announced a agreement for convertible debt for proceeds of AUD 25,000,000 on March 17, 2023. The transaction will include participation from SBC Global Investment Fund, a fund managed by SBC Global Investors. The debt is convertible into 40,000,000 shares.

The maturity date is 18 months from the date the initial pre-payment amount is received by the company. The company may expects to receive AUD 50,000,000.