AnteoTech's $6.4m Capital Raising and Share Purchase Plan

AnteoTech Ltd (ASX: $ADO) has secured funding commitments totaling $5.4m through a placement to sophisticated and professional investors and proposes to undertake an issue of shares under a Share Purchase Plan to raise $1.0m. The Placement attracted new institutional investors and includes $0.1m from directors, subject to shareholder approval. Each participant in the Placement and the SPP will receive 1 free attaching option for each 2 shares issued under the Placement and SPP.

Executive Commentary on Capital Raising

We are very pleased to have secured this funding to enable us to press ahead with our lead group of commercial partners who each represent substantial commercial opportunities for us, in the electric vehicle, consumer electronics, and battery manufacturing sectors. We have built a body of expertise and technical data that demonstrates the true benefits of our technology. With this new funding, we will increase our resources and support to our customers, to accelerate their validation of our technology and move towards commercial revenues. We have a number of commercial milestones in coming quarters and will keep shareholders updated as we progress towards achieving those.

Summary of AnteoTech's Announcement

AnteoTech Ltd (ASX: $ADO) has successfully raised $6.4m through a placement and a Share Purchase Plan. The funds will be used to drive clean energy market launch activities, support production scale up, and commence activities under the Grant from the Queensland Critical Minerals & Battery Fund. The company aims to complete the development of a Generation 1 Ultra High Silicon Anode capable of 800 cycles at 80% capacity retention, targeting the consumer electronics market. The Placement attracted new institutional investors and includes $0.1m from directors, subject to shareholder approval. The Share Purchase Plan is targeted to raise $1.0 million and will not be underwritten. AnteoTech's portfolio includes a proprietary high silicon anode, made with unrefined silicon, offering advantages of size, weight, and cost. The company's forward-looking statements indicate its commitment to driving future growth and innovation in the clean energy and life sciences markets.