Key points
- Amortisation event triggered due to share price below A$0.12
- Company must pay US$7,000,000 by 21 September 2026
- Ongoing payments based on 20% of Amount Outstanding
- Funding from existing cash reserves
Full summary
Novonix Limited, in its ASX announcement dated 10 September 2026, informs the market of an amortisation event under its funding agreement with YA II PN, Ltd, an affiliate of Yorkville Advisors Global, LLC. The amortisation event was triggered as the daily volume weighted average price (VWAP) of the company's shares on ASX was lower than the Floor Price of A$0.12 for the period specified in the Agreement. Consequently, the company is required to pay US$7,000,000 (the 'Amortisation Amount') to the Investor no later than 21 September 2026. The company intends to fund this amount from its existing cash reserves. If the amortisation event continues, further amortisation payments will be made on a rolling 30-day basis, in an amount equal to 20% of the Amount Outstanding at the time of the amortisation event, until the earlier of the amortisation event ceasing or the Amount Outstanding being repaid in full.