Silex Systems Limited (ASX: SLX) Completes $130 Million Placement
Capital Raise
Silex Systems Limited (ASX: SLX) has successfully completed an institutional placement, raising approximately $130 million by issuing 33.3 million new fully paid ordinary shares at $3.90 each. The placement was strongly supported by both existing shareholders and new institutional investors.
Use of Proceeds
The proceeds, combined with existing cash of around $69.6 million, will primarily support the commercialisation of SILEX uranium enrichment technology in the US through Global Laser Enrichment (GLE). A portion of the funds will also be allocated to pursue additional commercial opportunities, strengthen the company’s balance sheet, and cover general corporate expenses. Following the placement, Silex expects cash reserves to reach approximately $214.6 million.
Executive Comments
Michael Goldsworthy, CEO and Managing Director of Silex, stated, “We are delighted with the strength of support from both Silex’s existing share register and a range of new domestic and international shareholders for the Placement. The quality of participating investors is a strong validation of Silex’s ongoing commitment to the commercialisation of its innovative SILEX uranium enrichment technology, at a time when the global nuclear industry is experiencing unprecedented positive tailwinds. Importantly, the Placement proceeds will underpin Silex’s ability to support GLE in the pursuit of its unique ‘Triple Opportunity’ within the global nuclear fuel supply chain. With the nuclear renaissance gaining momentum around the world, we look forward to supporting GLE’s efforts to establish new US enrichment capacity, helping to restore US leadership in nuclear technology and contributing to US energy security ambitions,” he added.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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