Shaw and Partners is delighted to be appointed Joint Lead Manager and Bookrunner by Silex Systems Limited (ASX: SLX) on the proposed $120m equity raising to accelerate the commercialisation of SILEX technology.

Silex (via 51% owned Global Laser Enrichment LLC, ‘GLE’) has the opportunity to become the only third-generation laser uranium enrichment company in the world.  Cameco (NYSE: CCJ), the world’s largest publicly traded uranium company, owns the remaining 49% of GLE.

Silex’s laser uranium enrichment technology is classified by Australian and US Governments with no patent disclosures permitted and kept as trade secret under strictest security mandates (i.e., no IP sunsets and therefore perpetual royalty potential for Silex).

The commercial opportunity for Silex in uranium enrichment (via GLE) is significant, and underpinned by long-term tailwinds.  Tailwinds include the energy transition toward decarbonisation and the increasing impetus to reduce reliance on Russian-sourced nuclear fuel (e.g. the US Government passed ‘Inflation Reduction Act’ in August 2022 includes US$700 million support for the High Assay Low Enriched Uranium (HALEU) Availability Program).

Silex also offers exposure to long-term growth thematics including quantum computing (via the potential production of Zero-Spin #Silicon, ‘ZS-Si’) and nuclear medicine (via the potential production of #medicalisotopes).

Silex’s shares have jumped 330 per cent in the past year to value the group at more than $1 billion.

The Company is seeking to raise up to A$100 million by issuing approximately 24.7 million new ordinary fully paid shares in the Company by way of an institutional placement and undertake $20 million SPP.  New Shares will be issued at a price of A$4.05 per New Share.  The Offer Price represents a 12.9% discount to the 30-Day VWAP of A$4.65.

The offer is available to Australian Sophisticated and Professional Investors only. 

For more information, please speak to your Shaw and Partners Adviser.