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Magnis Energy Technologies Limited ( (AU:RYZ) ) has issued an announcement.
The ASX has issued a query letter to Ryzon Materials Limited regarding bank transactions totalling $1,861,250 over 25–26 November 2025 and their relationship to the company’s recently lodged prospectus. The prospectus outlines a placement of up to 200 million shares at $0.05 each with free-attaching options to raise up to $1 million, alongside a series of secondary offers of shares and options to a secured creditor, an engineering services provider, a financier and company directors in satisfaction of debt, service fees and other obligations. The ASX’s questions focus on the timing and disclosure of these funding arrangements, as well as their impact on Ryzon’s financial position, including the use of proceeds and pro forma balance sheet, with potential implications for shareholder understanding of the company’s capital structure and compliance with listing rules.
More about Magnis Energy Technologies Limited
Ryzon Materials Limited is an ASX-listed company that is undertaking capital-raising activities via a prospectus, offering shares and options through a placement and various secondary offers to creditors, service providers, financiers and directors, indicating a focus on restructuring its balance sheet and funding ongoing operations and commitments.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$50.38M
See more insights into RYZ stock on TipRanks’ Stock Analysis page.