Altech Advanced Materials AG Completes Capital Increase with Subscription Rights

Altech Advanced Materials AG has completed a capital increase with subscription rights, raising approximately EUR 788,236.80. During the period between October 10 and 24, 2024, up to 1,460,500 new shares were issued at EUR 2.40 each. A total of 328,432 shares were subscribed through the rights offering. The remaining shares are available via private placement until October 31, 2024.

Altech plans to use the funds for its CERENGERY and Silumina Anodes projects, requiring about EUR 1.9 million for short-term financing needs. A lack of sufficient funds might lead to a dilution of shareholdings in associated projects. However, significant uncertainty surrounds the financial close for the CERENERGY project, expected between Q1 and Q2 2025.