What's Going On With Carbon Revolution Public Limited Company Stock?

Carbon Revolution Public Limited Company 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 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