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Carbonxt Group Ltd. ( (AU:CG1) ) has provided an announcement.
Carbonxt Group has raised $600,000 through a placement of 6,666,667 new shares at $0.09 each to major shareholder Phelbe Pty Ltd and several high-net-worth investors, priced at a discount to recent trading levels. The funds will bolster working capital and support a further US$250,000 investment in New Carbon Processing, LLC, lifting Carbonxt’s stake to 46.7% as the Kentucky processing facility advances towards commissioning campaigns, with remediation and additional works under way to support ongoing and redundant operations; all new shares will rank equally with existing ordinary shares.
The most recent analyst rating on (AU:CG1) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Carbonxt Group Ltd. stock, see the AU:CG1 Stock Forecast page.
More about Carbonxt Group Ltd.
Carbonxt Group Ltd is an Australian-listed cleantech company that develops and markets specialised activated carbon products designed to capture contaminants from industrial processes that emit harmful pollutants. It manufactures powdered activated carbon and activated carbon pellets for use in industrial air purification, wastewater treatment and broader liquid and gas phase markets.
Average Trading Volume: 183,101
Technical Sentiment Signal: Buy
Current Market Cap: A$42.67M
See more insights into CG1 stock on TipRanks’ Stock Analysis page.