Carbon Revolution Secures New $25 Million Financing Agreement with OIC and Existing Lenders
Carbon Revolution Public Limited Company (CREV)
Company Research
Source: GlobeNewswire
GEELONG, Australia, Dec. 23, 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 a further US$25 million financing, which will be released in five tranches, each equal to US$5 million, subject to satisfying certain release conditions. In connection with the release of each of the five tranches of US$5 million, the Company will issue to OIC and the lenders under the US$60 million PIUS loan entered into in May 2023 ("Existing Noteholders"), penny warrants to purchase an aggregate number of shares equal to 5.0% of the Company's shares outstanding. The original US$110 million funding agreement with OIC included the US$70 million previously drawn and provided for up to US$40 million of additional funding by OIC, of which this US$25 million has
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CREV
Sec Filings
- 12/23/24 - Form 6-K
- 11/22/24 - Form 6-K
- 11/5/24 - Form 6-K
- CREV's page on the SEC website