Carbon Revolution Secures $25 Million Financing Agreement with OIC to Fund Growth
Carbon Revolution Public Limited Company (CREV)
Company Research
Source: GlobeNewswire
GEELONG, Australia, June 24, 2024 (GLOBE NEWSWIRE) -- Carbon Revolution plc (Nasdaq: CREV) (the “Company”), a Tier 1 OEM supplier and the leading global manufacturer of lightweight advanced technology automotive carbon fiber wheels, today announced that it has reached an agreement with Orion Infrastructure Capital ("OIC") for the early release of a further US$25 million in five tranches, each equal to US$5 million, subject to satisfying certain reserve release conditions. In connection with the release of each of the five tranches of US$5 million from escrow, the Company will issue to OIC a warrant to purchase a number of shares equal to 2.5% of the Company’s shares outstanding. The incremental $25 million of capital to be funded from OIC is intended to fund the Company as it works to satisfy the growing demand from Carbon Revolution’s OEM customers. The Company is making substantial investments in capacity and throughput and has been producing wheels at record rates. “We are fort
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CREV
News
- Automotive Carbon Ceramic Brake Rotors Market size is set to grow by USD 252.8 million from 2024-2028, Performance and fuel efficiency benefits of carbon ceramic brake pads boost the market, Technavio [Yahoo! Finance]Yahoo! Finance
- Carbon Revolution Appoints Industry Veteran Alia Comai as Chief Revenue Officer to Lead the Sales and Strategic PartnershipsGlobeNewswire
- Carbon Revolution Secures Further Release of $5 Million from OIC and is in Ongoing Negotiations with OIC for Further ReleasesGlobeNewswire
- Carbon Revolution Wins Automotive News PACE AwardsGlobeNewswire
- OIC Funds Incremental Early Release of $5 Million to Carbon RevolutionGlobeNewswire
CREV
Sec Filings
- 6/24/24 - Form 6-K
- 5/24/24 - Form 6-K
- 4/11/24 - Form 6-K
- CREV's page on the SEC website