Carbon Revolution Secures Further Release of $5 Million from OIC
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Carbon Revolution plc (Nasdaq: CREV) has secured the final release of $5 million from a $35 million facility by OIC. In return, the company issued a warrant to OIC for 2.5% of its outstanding shares.
November 06, 2024 | 12:00 am
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Carbon Revolution has secured the final $5 million from a $35 million facility by OIC, enhancing its financial position. The company issued a warrant to OIC for 2.5% of its outstanding shares.
The release of the final $5 million from the $35 million facility improves Carbon Revolution's liquidity, which is positive for its financial health. Issuing a warrant for 2.5% of shares could dilute existing shareholders but also indicates confidence from OIC.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100