Carbon Revolution Secures Up to $110M Structured Equity Facility
Ticker: CREVF · Form: 6-K · Filed: May 24, 2024 · CIK: 1960208
| Field | Detail |
|---|---|
| Company | Carbon Revolution Public LTD CO (CREVF) |
| Form Type | 6-K |
| Filed Date | May 24, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $110 million, $35 million, $5 million, $30 million, $5 Million |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, equity-facility, funding
TL;DR
Carbon Revolution lands $110M equity facility, got $35M already. Big cash infusion incoming.
AI Summary
Carbon Revolution Public Limited Company announced on May 24, 2024, that it has entered into agreements for a Structured Equity Facility (OIC Financing) providing up to US$110 million in funding. The company received an initial gross proceeds of US$35 million on November 3, 2023, subject to various conditions for subsequent tranches.
Why It Matters
This financing provides Carbon Revolution with significant capital to support its operations and growth, potentially impacting its ability to meet production targets and fulfill contracts.
Risk Assessment
Risk Level: medium — While the financing provides substantial capital, the reliance on a structured equity facility and conditions precedent for tranches introduce execution and funding risks.
Key Numbers
- US$110M — Structured Equity Facility (Total potential funding available to the company)
- US$35M — Initial Proceeds (Amount received on November 3, 2023)
Key Players & Entities
- Carbon Revolution Public Limited Company (company) — Filer of the report
- OIC Financing (financing) — Structured Equity Facility
- US$110 million (dollar_amount) — Maximum potential funding from the OIC Financing
- US$35 million (dollar_amount) — Initial gross proceeds received on November 3, 2023
FAQ
What are the conditions precedent for each tranche of the OIC Financing?
The filing states that the OIC Financing is subject to satisfying various conditions precedent to each tranche of funding, but does not specify what these conditions are.
When was the initial US$35 million tranche of the OIC Financing received?
The initial gross proceeds of US$35 million were received by the Company on November 3, 2023.
What is the total potential funding available through the OIC Financing?
The total potential funding available through the Structured Equity Facility (OIC Financing) is up to US$110 million.
What is the primary purpose of the OIC Financing for Carbon Revolution?
The OIC Financing is intended to provide up to US$110 million in funding for the Company, subject to various conditions.
Has Carbon Revolution received any funding from the OIC Financing yet?
Yes, the Company received an initial gross proceeds of US$35 million on November 3, 2023.
Filing Stats: 1,599 words · 6 min read · ~5 pages · Grade level 15.9 · Accepted 2024-05-24 16:41:34
Key Financial Figures
- $110 million — Facility ("OIC Financing") for up to US$110 million in funding, subject to satisfying vario
- $35 million — unding. The initial gross proceeds of US$35 million were received by the Company on Novembe
- $5 million — nt, providing for an early release of US$5 million from escrow in exchange for shares of a
- $30 million — hat all or a portion of the remaining US$30 million held in the escrow account may be relea
- $5 Million — cked Finance Facility and Issuance of US$5 Million of Senior Notes Thereunder Concurrentl
- $2 million — rtization of the Series 2023-A Notes is $2 million during the same period) is the same as
- $60 million — iod) is the same as applicable to the US$60 million aggregate principal amount of Series 20
- $150,000 — . The Company paid the OIC Investors a $150,000 fee in connection with the foregoing am
- $6.1 million — Notes, the Company has approximately US$6.1 million of unrestricted cash and approximately
- $4.9 million — f unrestricted cash and approximately US$4.9 million of restricted cash as of May 24, 2024.
- $25 million — of all or a portion of the remaining US$25 million from escrow in exchange for additional
Filing Documents
- ef20030003_6k.htm (6-K) — 22KB
- ef20030003_ex99-1.htm (EX-99.1) — 43KB
- ef20030003_ex99-2.htm (EX-99.2) — 607KB
- ef20030003_ex99-3.htm (EX-99.3) — 197KB
- ef20030003_ex99-5.htm (EX-99.5) — 262KB
- ef20030003_ex99-6.htm (EX-99.6) — 116KB
- image00001.jpg (GRAPHIC) — 2KB
- 0001140361-24-027467.txt ( ) — 1250KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Carbon Revolution Public Limited Company Date: May 24, 2024 By: /s/ Jacob Dingle Name: Jacob Dingle Title: Chief Executive Officer