Electrovaya Announces Increase in Credit Facility to C$22 million [Yahoo! Finance]
Electrovaya Inc. (ELVA)
Company Research
Source: Yahoo! Finance
TORONTO, ON / ACCESSWIRE / February 14, 2024 / Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a lithium ion battery technology and manufacturing company, today announced that its credit facility has been increased from C$16 million to C$22 million, with uncommitted accordions up to $4MM to increase the facility to C$26 million in the future. This facility will support the Company's working capital needs in connection with its continued sales and production growth. In addition, it has extended the term to maturity from March 31, 2024 to July 29, 2025. "We are very pleased with the additional support our lender has provided to us," said John Gibson, CFO of Electrovaya. "We believe the additional working capital provided from the revolving credit facility will assist us with our continued growth and in meeting the existing purchase order backlog and fiscal year revenue targets." The Company continues to work towards securing separate project financing to
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ELVA
News
- Electrovaya Presenting at the Upcoming EXIM Bank Annual Conference [Yahoo! Finance]Yahoo! Finance
- Electrovaya Presenting at the Upcoming EXIM Bank Annual Conference Accesswire
- Electrovaya Announces date for Q2-2024 Financial Results & Conference Call [Yahoo! Finance]Yahoo! Finance
- Electrovaya Announces date for Q2-2024 Financial Results & Conference Call Accesswire
- Electrovaya signs supply deal with Sumitomo for its lithium-ion battery products Apr. 29, 2024 8:45 AM ET By: Jaskiran Singh , SA News Editor [Seeking Alpha]Seeking Alpha
ELVA
Sec Filings
- 5/6/24 - Form 6-K
- 5/2/24 - Form 6-K
- 4/29/24 - Form 6-K
- ELVA's page on the SEC website