May 27 (Reuters) - Novonix Ltd NVX.AX :
* $58.28 MILLION CAPITAL RAISING VIA A PROPOSED INSTITUTIONAL PLACEMENT
* ISSUE PRICE OF $0.29 PER NEW SHARE
* NET PROCEEDS WILL FUND EXPANSION CAPEX TO SCALE PROPRIETARY ANODE MATERIAL PRODUCTION FROM 500 TO 2,000 TONNES P.A. OVER 2020-2021
* RAISING VIA PLACEMENT, RIGHTS ISSUE & STRATEGIC PLACEMENT TO ST BAKER ENERGY INNOVATION FUND
* FUNDS RAISED WILL BE APPLIED PRIMARILY TO SCALE UP PROCESSING FACILITY IN CHATTANOOGA TENNESSEE AMONG OTHERS