What's Going On With Carbon Revolution Public Limited Company Stock?
Carbon Revolution Public Limited Company (NASDAQ:CREV) shares are trading higher Monday. CREV began trading on the Nasdaq on Friday.
What To Know:
Carbon Revolution completed its business combination with Twin Ridge Capital Acquisition Corporation (NYSE:TRCA) and began trading under the CREV symbol on Friday at an opening price of $7.45. CREV closed at $29.32 on Friday.
Carbon Revolution today announced that it has received an initial investment of $70 million from a structured equity facility of up to $110 million from fund vehicles associated with Orion Infrastructure Capital, an infrastructure investment firm.
$35 million is immediately available to the company and $35 million was funded into an escrow account with release milestones expected to be achieved through calendar year 2024. An additional $40 million is available subject to Carbon Revolution's achievement of future growth milestones and to OIC investment committee approval.
Carbon Revolution is a Tier 1 OEM supplier and a global manufacturer of lightweight advanced technology carbon fiber wheels.
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CREV Price Action: According to Benzinga Pro, Carbon Revolution Public Limited shares are trading up over 147% at 72.66 at the time of publication.
Image: Nate Ashie from Pixabay
