Last evening, Enviro announced it had resolved a partially guaranteed rights issue of units of approx. SEK298m which will support the ongoing expansion and construction of the Uddevalla plant. The share price in the rights issue represents a discount of 45% to yesterday’s closing price, which may seem like a big discount. However, we are positive that Enviro now secures financing and gets some financial breathing room. Especially given the current macroeconomic landscape and the recent bankruptcy of Northvolt.
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