Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Magnis Energy Technologies Limited ( (AU:RYZ) ) has shared an announcement.
Ryzon Materials has secured $160,000 in interim funding via a short-term unsecured loan bearing 12% annual interest and repayable by 28 February 2026, with two company directors, Henian Chen and David Wang, contributing the majority of the funds under arm’s-length governance by recusing themselves from the approval process. The capital will be used for general working capital as the company works with the Australian Securities Exchange to seek reinstatement of its securities to trading, and Ryzon expects to raise additional funds on similar terms, underscoring its efforts to stabilise operations and maintain momentum in the lithium-ion battery materials sector during its suspension period.
More about Magnis Energy Technologies Limited
Ryzon Materials Ltd (ASX: RYZ) is a vertically integrated lithium-ion battery technology and materials company operating within the lithium-ion battery supply chain, focused on enabling and accelerating the mass adoption of electric mobility and renewable energy storage to support the green energy transition.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$50.38M
See more data about RYZ stock on TipRanks’ Stock Analysis page.