Carbon revolution secures further release of $5 million from oic as company hits financing milestones

Geelong, australia, july 11, 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 satisfied certain reserve release conditions and received us$5 million of the escrowed us$35 million facility, of which, as a result of this most recent release, $20 million has been released. in connection with the release the company issued to oic a warrant to purchase a number of shares equal to 2.5% of the company's shares outstanding.
CREV Ratings Summary
CREV Quant Ranking