Carbon Revolution Reveals That OIC Has Released An Incremental $5M Of Escrowed $35M Facility, Of Which, As A Result Of Most Recent Release, $30M Has Been Released
Portfolio Pulse from Nabaparna Bhattacharya
Carbon Revolution announced that OIC has released an additional $5M from a $35M escrowed facility, totaling $30M released so far. In return, Carbon Revolution issued a warrant to OIC for 2.5% of its outstanding shares.
September 06, 2024 | 10:37 am
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Carbon Revolution has secured an additional $5M from OIC, bringing the total released from the $35M facility to $30M. This financial boost is accompanied by the issuance of a warrant to OIC for 2.5% of the company's shares.
The release of additional funds from OIC provides Carbon Revolution with increased liquidity, which is positive for its financial stability. The issuance of a warrant for 2.5% of shares indicates a strategic partnership and potential future equity dilution, but the immediate impact is likely positive due to the financial support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90