Magnis Energy Technologies Announces Sale of IM3NY Assets

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Magnis Energy Technologies Announces Sale of IM3NY Assets

The latest update is out from Magnis Energy Technologies Limited ( (AU:MNS) ).

Magnis Energy Technologies Ltd announced that the Delaware Bankruptcy Court has approved the sale of IM3NY’s assets to Musashi Auto Parts Michigan Inc for US$10 million. The sale is set to close on April 4, 2025, and the company will provide further details on the sale price and proceeds disposition as they become available, impacting its operations and market positioning.

More about Magnis Energy Technologies Limited

Magnis Energy Technologies Ltd is a vertically integrated company in the lithium-ion battery technology and materials industry, focusing on the supply chain for lithium-ion batteries. The company aims to support and accelerate the mass adoption of electric mobility and renewable energy storage, which are critical for the green energy transition.

YTD Price Performance: 35.00%

Average Trading Volume: 125,926

Technical Sentiment Signal: Buy

Current Market Cap: $31.69M

See more insights into MNS stock on TipRanks’ Stock Analysis page.

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