Carbon Revolution Secures Further Release of $5m Million from OIC and further $0.4 Million Reserve Release from Existing Lenders
Carbon Revolution (CREV) has secured an additional US$5 million release from Orion Infrastructure Capital (OIC), bringing the total released amount to $15 million of the previously announced US$25 million facility. Additionally, Existing Noteholders have released US$400,000 from loan reserves, totaling US$1.2 million of the agreed US$2 million release.
As part of this funding arrangement, CREV will issue penny warrants to OIC and Existing Noteholders, representing 5.0% of the company's outstanding shares. Both lenders may agree to receive partial interest payments in kind rather than cash. This combined US$27 million funding package aims to support business liquidity and meet OEM customer demand, particularly for new programs entering production.
The company notes there are no guarantees of meeting conditions for the remaining US$10 million facility release and continues working to file its Annual Report to regain Nasdaq compliance.
Carbon Revolution (CREV) ha ottenuto un ulteriore 5 milioni di dollari USA da Orion Infrastructure Capital (OIC), portando l'importo totale rilasciato a 15 milioni di dollari dell'impianto precedentemente annunciato di 25 milioni di dollari USA. Inoltre, i detentori di note esistenti hanno rilasciato 400.000 dollari USA dalle riserve di prestito, totalizzando 1,2 milioni di dollari dei 2 milioni di dollari concordati per il rilascio.
Come parte di questo accordo di finanziamento, CREV emetterà warrant a basso costo a OIC e ai detentori di note esistenti, rappresentando il 5,0% delle azioni in circolazione dell'azienda. Entrambi i finanziatori possono concordare di ricevere pagamenti parziali degli interessi in natura anziché in contante. Questo pacchetto di finanziamento combinato di 27 milioni di dollari USA mira a supportare la liquidità aziendale e a soddisfare la domanda dei clienti OEM, in particolare per i nuovi programmi in fase di produzione.
L'azienda segnala che non ci sono garanzie di soddisfare le condizioni per il rilascio dei restanti 10 milioni di dollari USA e continua a lavorare per presentare il suo Rapporto Annuale per ripristinare la conformità con il Nasdaq.
Carbon Revolution (CREV) ha asegurado un adicional de 5 millones de dólares USA de Orion Infrastructure Capital (OIC), llevando el monto total liberado a 15 millones de dólares del financiamiento previamente anunciado de 25 millones de dólares USA. Además, los tenedores de notas existentes han liberado 400.000 dólares USA de las reservas de préstamo, totalizando 1.2 millones de dólares de los 2 millones de dólares acordados para la liberación.
Como parte de este acuerdo de financiamiento, CREV emitirá warrants de bajo costo a OIC y a los tenedores de notas existentes, representando el 5.0% de las acciones en circulación de la empresa. Ambos prestamistas pueden acordar recibir pagos parciales de intereses en especie en lugar de efectivo. Este paquete de financiamiento combinado de 27 millones de dólares USA tiene como objetivo apoyar la liquidez empresarial y satisfacer la demanda de los clientes OEM, particularmente para los nuevos programas que entran en producción.
La empresa señala que no hay garantías de cumplir con las condiciones para la liberación de los restantes 10 millones de dólares USA y continúa trabajando para presentar su Informe Anual para recuperar la conformidad con Nasdaq.
Carbon Revolution (CREV)는 Orion Infrastructure Capital (OIC)로부터 추가 500만 달러의 자금을 확보하여, 이전에 발표된 2500만 달러 시설의 총 방출 금액을 1500만 달러로 늘렸습니다. 또한, 기존 채권자들은 대출 준비금에서 40만 달러를 방출하여, 합의된 200만 달러 방출 중 총 120만 달러를 달성했습니다.
이 자금 조달 arrangement의 일환으로, CREV는 OIC 및 기존 채권자에게 회사의 발행된 주식의 5.0%를 나타내는 저가의 워런트를 발행할 것입니다. 두 대출자는 현금 대신 일부 이자 지급을 비현금으로 받을 수 있습니다. 이 결합된 2700만 달러 자금 패키지는 사업 유동성을 지원하고, 특히 생산에 들어가는 새로운 프로그램에 대한 OEM 고객 수요를 충족하는 것을 목표로 합니다.
회사는 남은 1000만 달러 시설 방출 조건을 충족할 보장이 없으며, Nasdaq 준수를 회복하기 위해 연례 보고서를 제출하기 위해 계속 노력하고 있다고 언급했습니다.
Carbon Revolution (CREV) a sécurisé un montant supplémentaire de 5 millions de dollars US de la part d'Orion Infrastructure Capital (OIC), portant le montant total libéré à 15 millions de dollars sur les 25 millions de dollars US de la facilité précédemment annoncée. De plus, les détenteurs de notes existants ont libéré 400 000 dollars US des réserves de prêt, totalisant 1,2 million de dollars des 2 millions de dollars convenus pour la libération.
Dans le cadre de cet accord de financement, CREV émettra des bons de souscription à bas prix à OIC et aux détenteurs de notes existants, représentant 5,0 % des actions en circulation de l'entreprise. Les deux prêteurs peuvent convenir de recevoir des paiements d'intérêts partiels en nature plutôt qu'en espèces. Ce paquet de financement combiné de 27 millions de dollars US vise à soutenir la liquidité de l'entreprise et à répondre à la demande des clients OEM, en particulier pour les nouveaux programmes entrant en production.
L'entreprise souligne qu'il n'y a aucune garantie de satisfaire aux conditions de libération des 10 millions de dollars US restants et continue de travailler à la soumission de son rapport annuel pour retrouver la conformité avec le Nasdaq.
Carbon Revolution (CREV) hat zusätzlich 5 Millionen US-Dollar von Orion Infrastructure Capital (OIC) gesichert, wodurch der insgesamt freigegebene Betrag auf 15 Millionen US-Dollar des zuvor angekündigten 25 Millionen US-Dollar Kreditrahmens steigt. Darüber hinaus haben bestehende Anleihegläubiger 400.000 US-Dollar aus den Darlehensreserven freigegeben, was insgesamt 1,2 Millionen US-Dollar der vereinbarten 2 Millionen US-Dollar Freigabe entspricht.
Im Rahmen dieser Finanzierungsvereinbarung wird CREV Penny-Warrants an OIC und bestehende Anleihegläubiger ausgeben, die 5,0% der ausstehenden Aktien des Unternehmens repräsentieren. Beide Kreditgeber können zustimmen, teilweise Zinszahlungen in Form von Sachleistungen anstelle von Bargeld zu erhalten. Dieses kombinierte Finanzierungsangebot von 27 Millionen US-Dollar zielt darauf ab, die Liquidität des Unternehmens zu unterstützen und die Nachfrage der OEM-Kunden zu erfüllen, insbesondere für neue Programme, die in die Produktion gehen.
Das Unternehmen weist darauf hin, dass es keine Garantien gibt, die Bedingungen für die verbleibende Freigabe von 10 Millionen US-Dollar zu erfüllen, und weiterhin daran arbeitet, seinen Jahresbericht einzureichen, um die Nasdaq-Konformität wiederherzustellen.
- Secured additional $5.4 million in immediate funding
- Flexibility in interest payments with option for payment in kind
- Progress in accessing previously announced funding facilities
- Potential shareholder dilution from 5% warrant issuance
- Uncertainty in securing remaining $10 million from OIC facility
- Ongoing Nasdaq compliance issues due to delayed Annual Report filing
GEELONG, Australia, March 11, 2025 (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 Orion Infrastructure Capital ("OIC") has released an incremental US
Following this combined US
The Company continues to work diligently to file its Annual Report as promptly as practical to regain compliance with Nasdaq Listing Rule 5250(c)(1) as described here.
About Carbon Revolution plc
Carbon Revolution plc (Nasdaq: CREV) (the “Company” or “Carbon Revolution”) is the parent of Carbon Revolution Pty Ltd, an early-stage growth company which has successfully innovated, commercialized and industrialized the advanced manufacture of carbon fiber wheels for the global automotive industry. The Company has progressed from single prototypes to designing and manufacturing lightweight wheels for cars and SUVs in the high performance, premium and luxury segments, for the world’s most prestigious automotive brands. Carbon Revolution is creating a significant and sustainable advanced technology business that supplies its lightweight wheel technology to automotive manufacturers around the world.
For more information, visit carbonrev.com
Forward Looking Statements
All statements other than statements of historical facts contained in this communication are forward-looking statements. Forward-looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the expectation of continued listing of Carbon Revolution’s ordinary shares and warrants on Nasdaq, the Company’s ability to file its Annual Report and promptly regain compliance with Nasdaq Listing Rule 5250(c)(1), the future financial performance, business strategies, financings and expectations for the Company’s business. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Carbon Revolution’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from such assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of Carbon Revolution.
These forward-looking statements are subject to a number of risks and uncertainties, including (i) the ability to maintain the listing of Carbon Revolution’s securities on Nasdaq or any other exchange on which such securities may be listed in the future; (ii) the failure to realize the benefits of being listed on a U.S. securities exchange and publicly-traded in the United States; (iii) Carbon Revolution's liquidity, including its ability to pay its obligations and to issue equity, refinance its indebtedness or otherwise obtain financing at all or on acceptable terms, (iv) risks related to its ability to meet financial covenants and other key covenants under existing financing arrangements or to obtain waivers or forbearance from compliance with such covenants, which could result in the acceleration of outstanding indebtedness, (v) changes in domestic and foreign business, market, financial, political and legal conditions; (vi) risks related to the rollout of Carbon Revolution’s business strategy and the timing of expected business milestones; (vii) the effects of competition on Carbon Revolution’s future business and the ability of the combined company to grow and manage growth, establish and maintain relationships with customers and retain its management and key employees; (viii) risks related to domestic and international political and macroeconomic uncertainty, including the Russia-Ukraine and conflicts in the Middle East; (ix) the outcome of any legal proceedings that may be instituted against Carbon Revolution; (x) the impact of pandemic and governmental responses on any of the foregoing risks; (xi) risks related to Carbon Revolution’s industry; (xii) changes in laws and regulations; and (xiii) those factors discussed in the documents Carbon Revolution filed with the SEC, including the Shell Company Report on Form 20-F.
If any of these risks materialize or Carbon Revolution’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Carbon Revolution does not presently know or that Carbon Revolution currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Carbon Revolution’s expectations, plans or forecasts of future events and views as of the date of this communication. Carbon Revolution anticipates that subsequent events and developments will cause Carbon Revolution’s assessments to change. However, while Carbon Revolution may elect to update these forward-looking statements at some point in the future, Carbon Revolution specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Carbon Revolution’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
For further information, please contact:
Investors
Investors@carbonrev.com
Media
Media@carbonrev.com
FAQ
How much funding has Carbon Revolution (CREV) secured from OIC's facility as of March 2025?
What is the total amount of loan reserves released by CREV's Existing Noteholders?
What warrants will CREV issue to OIC and Existing Noteholders in March 2025?
How much remains to be released from CREV's OIC facility?
