Carbon Revolutions AU$60 Million Debt Program Fuels Expansion, and Merger Plans

Geelong-based manufacturer Carbon Revolution Limited (ASX: CBR) has established a new AU$60 million debt program, arranged by PIUS Limited, LLC, that will be used to fund further automation and capacity expansion, corporate operations, and other working capital purposes. The program will issue notes to qualified institutional buyers based in the US, secured with the company's assets, including its intellectual property.

The program is expected to contribute up to AU$37 million in net new funding once fees, transaction costs, and lender repayments are accounted for. The funding will enable the group to remain financially stable until and after its proposed merger with Twin Ridge Capital Acquisition Corp., which is planned to occur in August 2023. Carbon Revolution is known for producing lightweight carbon fibre wheels for some of the world's most desirable cars.

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