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NanoXplore Inc ( (TSE:GRA) ) has provided an update.
NanoXplore Inc. has successfully closed a bought deal private placement, raising $25,728,840 through the issuance of 10,720,350 common shares at $2.40 each. The proceeds will be used to expand graphene production capacity and for general corporate purposes. This strategic move, supported by a syndicate of underwriters, including Ventum Financial Corp. and Cormark Securities Inc., aims to bolster NanoXplore’s growth and market positioning. Martinrea International Inc., an insider, participated significantly in the offering, maintaining its stake in the company.
The most recent analyst rating on (TSE:GRA) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on NanoXplore Inc stock, see the TSE:GRA Stock Forecast page.
Spark’s Take on TSE:GRA Stock
According to Spark, TipRanks’ AI Analyst, TSE:GRA is a Neutral.
NanoXplore Inc. shows potential with improving margins and expansion efforts, but current profitability issues and revenue declines present significant risks. Bullish technical signals are tempered by overbought conditions, and valuation metrics reflect ongoing financial challenges.
To see Spark’s full report on TSE:GRA stock, click here.
More about NanoXplore Inc
NanoXplore is a leading graphene company that manufactures and supplies high-volume graphene powder for transportation and industrial markets. The company also provides graphene-enhanced plastic and composite products for various sectors, including transportation, packaging, and electronics. Additionally, NanoXplore is involved in the production of silicon-graphene-enhanced Li-ion batteries for electric vehicles and grid storage, with headquarters in Montreal, Québec and manufacturing facilities in Canada, the United States, and Europe.
Average Trading Volume: 137,000
Technical Sentiment Signal: Sell
Current Market Cap: C$402.6M
For a thorough assessment of GRA stock, go to TipRanks’ Stock Analysis page.