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Stock impact report

Northvolt Hires Advisory Firm Teneo to Tackle Cash Crunch [BNN Bloomberg (Canada)]

PJT Partners Inc. Class A (PJT) 
Last pjt partners inc. class a earnings: 4/28 06:50 am Check Earnings Report
Company Research Source: BNN Bloomberg
The preparations are part of Northvolt's response to a fast-moving liquidity crisis, said the people, who asked not to be identified because the matter is private. Teneo's appointment underscores the gravity of Northvolt's cash crunch as the electric-vehicle supplier negotiates with lenders over potential concessions. The financial challenges have cascaded quickly amid a drawn-out production ramp-up that's starved the battery maker of much-needed revenue. The company is running short of cash less than a year after securing a $5 billion green loan facility, which brought total debt and equity commitments to more than $13 billion. As negotiations with lenders and investors proceed, the company said Monday that it would slash staff by about 20% globally to focus on raising output at its main plant at Skelleftea, in northern Sweden. Northvolt has made significant progress in financing talks over the past couple of weeks, a company spokesman said in an email, declining to provide Show less Read more
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