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Electrovaya Inc. Announces Proposed Public Offering of Common Shares
Accessnewswire· 2025-11-04 21:45
Core Viewpoint - Electrovaya Inc. is initiating an underwritten public offering of its common shares to raise capital for various strategic investments and operational needs [1][3]. Group 1: Offering Details - The offering will include a 30-day option for underwriters to purchase an additional 15% of common shares at the public offering price [1]. - The common shares will be offered in the U.S. under a previously filed shelf registration statement and will also be qualified for distribution in Canada, excluding the Province of Québec [2]. - Oppenheimer & Co. Inc. is the sole book-running manager, while Raymond James Ltd. is the lead manager for the offering [3]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for investments in energy as a service, next-generation battery and separator R&D, and general corporate purposes [3]. Group 3: Regulatory and Compliance - The offering is subject to customary closing conditions, including the listing of common shares on the TSX and NASDAQ, and any required approvals [4]. - Access to the prospectus and related documents will be provided in accordance with securities legislation [5][6].