Carbon revolution secures new $25 million financing agreement with oic and existing lenders

Geelong, australia, dec. 23, 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 a further us$25 million financing, which will be released in five tranches, each equal to us$5 million, subject to satisfying certain release conditions. in connection with the release of each of the five tranches of us$5 million, the company will issue to oic and the lenders under the us$60 million pius loan entered into in may 2023 ("existing noteholders"), penny warrants to purchase an aggregate number of shares equal to 5.0% of the company's shares outstanding.
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