Share Purchase Plan offer
“The Board believes eligible shareholders should have the chance to invest directly in the Company’s journey to commercialise solutions to decarbonise industry and benefit from any capital expansion opportunities through this share purchase plan. Participating in this capital raising does not incur any brokerage fees or other transaction costs. I will apply for my full entitlement through my trustee company.”
– Dr Kevin Moriarty, 1414 Degrees Executive Chairman
The SPP opened to eligible shareholders on Friday, 23 August 2024 and will close at 4:30pm ACST on Wednesday, 18 September 2024.
The Company’s significant near-term cash earnings outlook includes:
- $1.5m from Vast Solar Pty Ltd when SiliconAurora Pty Ltd receives approval to connect the Aurora Energy Precinct to the transmission network;
- the proposed 140MW Aurora Battery Energy Storage System (BESS);
- instalments from grants of $3.2 million for development of SiPHyR™; and
- a potentially significant injection if Woodside Energy Technologies Pty Ltd exercises an option to jointly develop and commercialise SiBox® to earn up to 49% of our SiBox intellectual property (IP). The asset value of this IP in 14D accounts is currently approximately $15 million and we expect a significant uplift in commercial valuation.
We must invest capital to realise these earnings, particularly to advance several commercial opportunities and to speed up hydrogen reactor development. With additional funding, we can expedite reactor development and achieve market readiness at the earliest opportunity.
Purpose and use of funds
The capital raising will provide 14D with funding that will enable your Company to advance toward significant near-term milestones. The funds raised under the SPP are intended to be used by your Company as follows:
The SPP is targeting to raise up to $1 million by way of the issue of up to 16,666,667 New Shares.
The funds raised under the SPP are intended to be used for:
- completing development of the Aurora Energy Precinct’s grid scale 140MW/280MWh Li-ion battery to financial investment decision, including securing connection to the transmission network and national electricity market
- securing a contract for SiBox technology in an industry setting, and mass manufacturing trials for SiBrick
- fast-tracking development and commercialisation of the SiPHyR hydrogen production technology
- costs of the SPP offer; and
- general working capital.
Read the full details in SPP Offer Terms and Conditions at http://www.computersharecas.com.au/14dspp
How to apply
- Eligible Shareholders who have opted to receive email correspondence should have received an email with the subject line ‘1414 Degrees Limited Share Purchase Plan’, sent at approximately 10am on Friday, 23 August 2024. This email contains a link with personalised application details.
- Printed documents for Eligible Shareholders who prefer to receive hard copies were posted on Friday, 23 August 2024.
- You can also visit the Offer website www.computersharecas.com.au/14dspp to access and submit your online application. Please note you will need your SRN/HIN number.
Key dates
The revised timetable for the SPP Offer is set out below. The Directors reserve the right to vary the dates and times without notice.
| Event | Date |
| Record Date (date for determining shareholders’ entitlements to participate in SPP Offer) | 6:30pm (ACST) Thursday 15 August 2024 |
| Announcement of SPP Offer | Friday 16 August 2024 |
| Despatch of SPP Offer documentation | Friday 23 August 2024 |
| Opening Date for SPP Offer | Friday 23 August 2024 |
| Closing Date for SPP Offer | 4.30pm (ACST) Wednesday 18 September 2024 |
| Issue of new Shares under the SPP Offer | Wednesday 25 September 2024 |
| Quotation of new Shares on ASX | Thursday 26 September 2024 |
*These dates are indicative only. The Company reserves the right to amend any or all of these events, dates and times, without notice, subject to the Corporations Act 2001 (Cth) (Corporations Act), the ASX Listing Rules and other applicable laws. In particular, the Company reserves the right to extend the closing date of the SPP Offer, to accept late applications either generally or in particular cases or to withdraw the SPP Offer without prior notice. The commencement of quotation of new Shares is subject to confirmation from ASX.
Eligible shareholders are encouraged to submit their applications early.
Related news and announcements
Share Purchase Plan Offer extended
1414 Degrees is please to advise the SPP is near target and will be extended for an additional week to now close on Friday, 20 September 2024. Under the SPP, eligible shareholders are invited to subscribe for up to $30,000 of new fully paid ordinary shares in the...
Directors subscribe to Share Purchase Plan
1414 Degrees Board of Directors have once again shown their confidence in the future of the company by subscribing a total of $75,000 to the Share Purchase Plan (SPP) announced by the Company on 16 August 2024. This SPP presents an opportunity for eligible...
Share Purchase Plan Offer opens
1414 Degrees has opened a Share Purchase Plan (SPP) Offer, to advance several commercial opportunities to realise near-term cash earning potential. The SPP opened to Eligible Shareholders today (Friday, 23 August 2024) and will close at 4:30pm ACST on Friday, 13...
June 2024 Quarterly Activity Report
1414 Degrees provided an update to the ASX, outlining progress on key milestones during the period ending 30 June 2024. Executive Chairman, Dr Kevin Moriarty wrote to shareholders summarising key updates including progress on: commercial readiness and strategic...
Partnership for hydrogen development project signed-off
We're pleased to announce we've formalised a partnership with key companies and institutions to develop our SiPHyR™ (SiBrick-integrated Pyrolytic Hydrogen Reactor) technology. The SiPHyR project, which is designed to produce hydrogen and solid carbon using methane...
New hydrogen processing technology for 14D
In a further development of our strategy to use our technology to produce low-emissions hydrogen, 1414 Degrees is pleased to announce it has acquired exclusive rights to a new method for producing net zero hydrogen from natural gas. This invention by the University of...
Aurora Energy Precinct transmission access update
1414 Degrees Ltd is pleased to advise that its joint venture SiliconAurora Pty Ltd, owned equally with Vast Renewables Limited (Vast), has entered into a term sheet with Vast Solar and OZ Minerals Services Pty Ltd , a subsidiary of BHP Group Limited (BHP). The Term...
SiBox testing complete and commercial moves underway
1414 Degrees Ltd is proud to announce a major step forward for our energy storage technology, with the successful completion of the SiBox demonstration phase testing and a greater shift towards commercialisation. This milestone signifies a pivotal shift for our...
1414 Degrees secures $2.5m Grant for SiPHyR clean hydrogen technology
1414 Degrees Ltd is proud to announce that it has been granted $2.5m by the Australian Government to advance its SiPHyR technology for affordable net-zero hydrogen production. This funding is part of a $5.2m project, conducted in partnership with the University of...
The SPP Offer
The offer of New Shares under the SPP is being made exclusively to shareholders who were registered as holders of Shares at 6.30pm (ACST) on 15 August 2024 (Record Date) and whose registered address is in Australia, New Zealand or the United Kingdom (Eligible Shareholders).
Eligible Shareholders may apply for parcels of New Shares in $1,000 increments with a minimum amount of $1,000 up to a maximum investment of $30,000 without incurring brokerage costs.
The issue price of $0.06 per New Share represents a discount of:
- 7.7% to the closing price of Shares on the Australia Securities Exchange (ASX) on 15 August 2024, which was the last trading day prior to the announcement of the SPP;
- 10.5% to the volume weighted average price (VWAP) of Shares on the ASX during the 5 trading days immediately prior to the announcement of the SPP Offer on 16 August 2024; and
- 12.2% to the VWAP of Shares on the ASX during the 30 trading days immediately prior to the announcement of the SPP Offer on 16 August 2024.
Full details and terms of the SPP Offer are set out in the SPP Offer Terms and Conditions. Before you decide whether to participate in the SPP Offer, please read the SPP Offer Terms and Conditions carefully, as you will be bound by them.
Further information
If you have any questions about the SPP Offer please contact the Offer Information Line on 1300 556 161 (within Australia) or +61 3 9415 4000 (outside Australia) between 8:00am and 4:30pm (ACST), Monday to Friday during the Offer Period.