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Magnis Energy Technologies Limited ( (AU:RYZ) ) has provided an announcement.
Ryzon Materials Ltd announced a change in the trustee for its secured debt from McEvoy Street (Alexandria) Pty Ltd to F.X Funds Management Pty Ltd. The new trustee has agreed to extend the maturity date of the secured debt to September 30, 2026, and provide additional financial support of up to $7 million over the next 12 months to assist with Ryzon’s operating costs and working capital. This development is expected to positively impact Ryzon’s operations by ensuring continued financial support, thereby strengthening its position in the lithium-ion battery industry and supporting its strategic goals.
More about Magnis Energy Technologies Limited
Ryzon Materials Ltd is a vertically integrated company specializing in lithium-ion battery technology and materials, playing a significant role in the lithium-ion battery supply chain. The company focuses on enabling and accelerating the mass adoption of electric mobility and renewable energy storage, which are critical for the green energy transition.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$50.38M
See more insights into RYZ stock on TipRanks’ Stock Analysis page.