Electra closes us$5.5 million public equity offering

Toronto--( business wire )--electra battery materials corporation (nasdaq: elbm; tsx-v: elbm) (“electra” or the “company”) is pleased to announce that it has closed its previously announced overnight-marketed public offering (the “offering”) of units of the company (the “units”) on a best efforts basis at a price of us$2.35 per unit for gross proceeds of approximately us$5.5 million (~cad$7.4 million). each unit comprises one common share in the capital of the company (each, a “common share”) and one common share purchase warrant (each, a “warrant”). each warrant entitles the holder to purchase one common share at a price of us$3.10 at any time on or before the date that is 36 months after the closing date of the offering.
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