Carbon revolution secures further release of $5 million from oic and is in ongoing negotiations with oic for further releases

Geelong, australia, may 24, 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 the early release of a further us$5 million from the remaining us$30 million in escrow, by way of issuance of secured debt under modifications which have been agreed with existing financiers. after giving effect to the net proceeds of the us$5m release, the company has approximately us$6.1m of unrestricted cash1 and us$4.9m in restricted trust fund related to the pius agreement on the balance sheet.
CREV Ratings Summary
CREV Quant Ranking