Janus Electric raises $7.7M via private placement

• Janus Electric secured $7.7 million in firm commitments through a single-tranche private placement of new ordinary shares.
• The new shares were priced at $0.24 each, representing a 2.04% discount to the last traded price.
• Capital raised will support working capital, supply chains, and expansion into the North American market.

Janus Electric (ASX:JNS) secured firm commitments to raise approximately $7.7 million before costs through a private placement.

The issue price of $0.24 per share.  The transaction will issue 32 million new fully paid ordinary shares to Australian small-cap institutional funds.

Proceeds will fund supply chain needs, joint venture partnerships, and customer support for North American delivery.

Following the announcement, the Janus Electric share price was up at $0.27.

The placement follows recent announcements of approximately $55 million in new orders from the company's North American order book.

The company stated that the capital injection will support its ongoing growth strategy in zero-emission transport.