Carbon Revolution Public Limited Company announced that it expects to receive $110 million in funding from OIC, L.P.
On May 24, 2024, the Company and the OIC Investors entered into Amendment No. 2 to the Securities Purchase Agreement (the ?Second SPA Amendment?), providing that all or a portion of the remaining $30 million held in the escrow account may be released in exchange for preferred shares issued by the Company or debt instruments issued by the Company or its subsidiaries, including Carbon Revolution Operations, as well as an associated warrants.