Ann: US$52M Term Sheet Signed for New York Battery Plant, page-28

Great announcement today. No better funding option than a bond - no caveats/conditions, just a straight up amount for a fixed term at a fixed rate.

A bond is the stuff of grown ups. No way a terms sheet would have been written if we were not bankable; this gives huge credibility to the quality of IM3's off-takes and its financial projections.

It was mentioned at an AGM that 80% of a batteries costs are in its raw materials, to which, without the need for cobalt and nickel, these costs are considerably reduced for IM3, allowing for very healthy profit margins.

Very smart receiving $22m in 12 months - why start paying interest on money you don't yet need. Again, I believe it's been mentioned that a large amount of the funds are needed for inventory which, would not be required until really scaling up.

Of course, the above is all IMO. DYOR