Jun 17, 2026 – 6.25pmBattery materials and technology company Novonix kicked off a $20.7 million capital raising on Tuesday to get its production moving. But a 57 per cent decline in its share price this year, and the size of the capital raising discount, 33.3 per cent, has spidey senses tingling.Novonix’s Riverside facility in Chattanooga, Tennessee. Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Novonix’s 33pc discount capital raising is raising red flags
Backers would love to see this company cement a comeback, but it has more red flags than a CCP political rally.
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