Carbon Revolution Secures Further Release of $5 Million from OIC as Company Launches Key Programs
Carbon Revolution Public Limited Company (CREV)
Company Research
Source: GlobeNewswire
GEELONG, Australia, Sept. 06, 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 OIC has released an incremental US$5 million of the escrowed US$35 million facility, of which, as a result of this most recent release, $30 million has been released. In connection with the release the Company issued to OIC a warrant to purchase a number of shares equal to 2.5% of the Company’s shares outstanding. Proceeds from the OIC investment will continue 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. This release follows the Company's recent announcements that it will be supplying the carbon fiber wheels for the just-revealed Chevrolet Corvette ZR1 and
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CREV
News
- Carbon Revolution Announces Receipt of Extension from Nasdaq Stock MarketGlobeNewswire
- Carbon Revolution Secures Further Release of $5 Million from OIC and further $0.4 Million Reserve Release from Existing LendersGlobeNewswire
- Carbon Revolution Secures New $25 Million Financing Agreement with OIC and Existing LendersGlobeNewswire
- Carbon Revolution Announces Receipt of Non-Compliance Letter from NasdaqGlobeNewswire
CREV
Sec Filings
- 2/4/25 - Form 6-K
- 1/24/25 - Form 6-K
- 12/23/24 - Form 6-K
- CREV's page on the SEC website