OIC Funds Incremental Early Release of $5 Million to Carbon Revolution
11 4월 2024 - 9:56PM
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 an early release of US$5 million from the US$35 million
in escrow under its previously announced Structured Equity Facility
with OIC for up to US$110 million, on the terms and conditions
summarised in the Company's filing with the SEC, which can be
accessed here.
In addition, the Company and OIC are engaging in ongoing
negotiations with respect to the terms for the early release of all
or a portion of the remaining US$30 million from escrow (there is
no assurance that such negotiations will result in the release of
any or all of those remaining funds on acceptable terms, if at
all).
Separately, and as announced on April 9, 2024, the Company
achieved record revenue results for the first half of fiscal 2024,
including record quarterly revenue of US$14.8 million in 2Q24, up
177% year-over-year. The Company also issued a preliminary estimate
for fiscal 3Q 2024 (quarter ended March 31, 2024) revenue of $10
million to $11 million, representing a year-over-year increase of
110% at the mid-point of the range. For further details please find
a link to the earnings release here.
About Carbon Revolution plcCarbon Revolution
plc 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 StatementsAll 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 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) 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, (ii) risks related to our
ability to meet financial covenants and other key covenants under
existing financing arrangements, (iii) changes in domestic and
foreign business, market, financial, political and legal
conditions; (iv) the ability to maintain the listing of Carbon
Revolution’s securities on the stock exchange; (v) the failure to
realize the anticipated benefits of the business combination and
related transactions; (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 Israel-Hamas
conflicts; (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:
InvestorsInvestors@carbonrev.comMediaMedia@carbonrev.com
Carbon Revolution Public (NASDAQ:CREV)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Carbon Revolution Public (NASDAQ:CREV)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024