Core Viewpoint - Electrovaya Inc. has announced a public offering of 5,175,000 common shares priced at US$2.15 per share, aiming to raise approximately US$11.1 million, potentially US$12.8 million if the over-allotment option is fully exercised [1][3]. Group 1: Offering Details - The offering is managed by Roth Capital Partners as the sole book-running manager, with Raymond James Ltd. and Craig-Hallum Capital Group LLC as co-lead managers [2]. - The gross proceeds from the offering are expected to be approximately US$11.1 million, or US$12.8 million if the over-allotment option is exercised in full [3]. - The offering is expected to close on or about December 18, 2024, subject to customary closing conditions [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to satisfy cash collateral conditions for a loan approved by the Export-Import Bank of the United States, repay existing working capital facility amounts, and cover costs related to financing and the purchase of the Jamestown, New York manufacturing facility [3]. Group 3: Regulatory and Compliance - The offering is made in the United States under a shelf registration statement declared effective by the SEC and will be qualified for distribution in Canada, excluding the Province of Québec [5]. - A preliminary prospectus supplement has been filed with the SEC and will be available for free on the SEC's website [6].
Electrovaya Inc. Announces Pricing of US$11.1 Million Public Offering of Common Shares