Carbon Revolution Secures $35M from $110M Equity Facility
Ticker: CREVF · Form: 6-K · Filed: Sep 6, 2024 · CIK: 1960208
| Field | Detail |
|---|---|
| Company | Carbon Revolution Public LTD CO (CREVF) |
| Form Type | 6-K |
| Filed Date | Sep 6, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $110 million, $35 million, $5 million |
| Sentiment | bullish |
Sentiment: bullish
Topics: financing, equity-facility, funding
TL;DR
Carbon Revolution just drew $35M from a $110M equity line, giving them breathing room.
AI Summary
Carbon Revolution Public Limited Company announced on September 5, 2024, that it has drawn down an initial US$35 million from a Structured Equity Facility, also known as the OIC Financing. This facility provides for up to US$110 million in funding, contingent on meeting certain conditions for each funding tranche.
Why It Matters
This funding provides Carbon Revolution with crucial capital to continue its operations and potentially fund future growth initiatives.
Risk Assessment
Risk Level: medium — While the funding is positive, the facility is subject to conditions, and the total amount is not guaranteed.
Key Numbers
- US$110M — Structured Equity Facility (Maximum potential funding available)
- US$35M — Initial Drawdown (Amount received on November 3)
Key Players & Entities
- Carbon Revolution Public Limited Company (company) — Registrant
- US$110 million (dollar_amount) — Total potential funding from Structured Equity Facility
- US$35 million (dollar_amount) — Initial drawdown from Structured Equity Facility
- September 5, 2024 (date) — Date of announcement/drawdown
- November 3 (date) — Date initial proceeds were received (implied 2023 from context of previous disclosures)
FAQ
What is the total amount available under the Structured Equity Facility?
The Structured Equity Facility provides for up to US$110 million in funding.
How much has Carbon Revolution drawn from the facility so far?
The Company has drawn an initial gross amount of US$35 million.
When was the initial drawdown received?
The initial gross proceeds of US$35 million were received by the Company on November 3.
Are there any conditions to receiving the funding?
Yes, the facility is subject to satisfying various conditions precedent to each tranche of funding.
What is the filing form and date?
This is a Form 6-K filed on September 6, 2024, reporting for the month of September 2024.
Filing Stats: 594 words · 2 min read · ~2 pages · Grade level 20 · Accepted 2024-09-06 08:00:18
Key Financial Figures
- $110 million — ility (the "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 — 024, July 10, 2024 and July 29, 2024, US$5 million was released from the escrow account (e
Filing Documents
- ef20035552_6k.htm (6-K) — 11KB
- 0001140361-24-040310.txt ( ) — 12KB
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: September 6, 2024 By: /s/ Jacob Dingle Name: Jacob Dingle Title: Chief Executive Officer