Completion of Share Purchase Plan (SPP) Offer
Perth, Australia and Greer, South Carolina- 19th January 2018- Alexium International Group Limited (“Alexium,” “the Company”) (ASX: AJX, NASDAQ Designation: AXXIY) announces the completion of its SPP Offer of new fully paid ordinary shares at A$0.35 per share (New Shares).
The SPP Offer closed at 5:00pm (AWST) on Thursday, 18 January 2018. Alexium received applications from 276 registered shareholders totalling A$1.65 M, equivalent to 4,705,600 New Shares, which are expected to be quoted on 25 January 2018.
Funds raised from the combined A$13.65 M from the Placement and SPP are to provide demonstrable balance sheet and inventory purchase capacity required ahead of large chemical supply contracts that Alexium is pursuing. These include:
- substantial contract opportunities in bedding, military and apparel; and
- an anticipated increase in demand due to the recent US Consumer Product Safety Commission (CPSC) vote to ban the use of organ halogen flame retardants which have dominated the market for over 40 years. This is expected to provide significant new opportunities for Alexium’s suite of environmentally friendly flame retardant.
Alexium Managing Director Dirk Van Hyning, said “Alexium wished to enable our retail shareholders to participate in the recent capital raising at the same price as institutional investors and we pleased with the uptake from our retail shareholders in the SPP offering.”
About Alexium International Group Limited
Alexium International Group Limited (ASX: AJX, Nasdaq Designate: AXXIY) holds proprietary patent applications for novel technologies developed to provide flame retardancy for a wide range of materials. These environmentally friendly flame retardants have applications for several industries and can be customized. Further, Alexium has developed products for a range of other applications including phase change materials, water repellents, antimicrobials, and combinations thereof. Alexium also holds patents for a process developed initially by the U.S. Department of Defense, which allows for the surface modification and attachment of nanoparticles or multiple chemical functional groups to surfaces or substrates to provide functions such as fire retardancy, waterproofing, oil proofing, and anti-microbial treatments. Applications under development include but are not limited to textiles, packaging, electronics, and building materials. Alexium’s chemical treatments are currently marketed as Alexiflam® and Alexicool®. For additional information, please visit alexiuminternational.com.
Dirk Van Hyning
Deputy Chief Executive Officer
Vice President, Investor Relations
- 276 applicants purchased 4.7M shares
- Approx A$1.65 M raised through purchase of new ordinary shares at 35c each
- SPP proceeds supplement A$12M placement to institutional investors in December 2017 (Placement)