Carbon Revolution Secures Further Release of $5 Million from OIC as Company Launches Key Program

July 30, 2024

https://www.globenewswire.com/news-release/2024/07/30/2920829/0/en/Carbon-Revolution-Secures-Further-Release-of-5-Million-from-OIC-as-Company-Launches-Key-Program.html

GEELONG, Australia, July 30, 2024 (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 OIC has released an incremental US$5 million of the escrowed US$35 million facility early, of which, as a result of this most recent release, $25 million has been released. In connection with the release the Company issued to OIC a warrant to purchase a number of shares equal to 2.5% of the Company’s shares outstanding.

Read more at globenewswire.com

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.