Zentek Just Raised C$18 Million. The Stock Still Trades Below the Deal Price
Zentek Ltd. shares traded just above flat in Toronto late Thursday morning, still below the price of a new C$18 million financing that the graphene and graphite developer closed a day earlier. The stock was at about C$0.80 on the TSX Venture Exchange, up 0.63%, while the company sold units in the financing at C$1.00 each. That gap is the point for investors now. Zentek has fresh cash to push its Albany Graphite project and ZenGUARD air-filter business, but the market is still pricing the stock as a small-cap story with dilution, commercialization risk and a Nasdaq listing issue to clear.