- Electra Battery Materials’ US$30M private placement fully subscribed.
- Financing supported by existing shareholders and new institutions.
- Funds to advance commissioning of North America’s first cobalt sulfate refinery.
- Electra (TSXV:ELBM) last traded at C$1.56, giving back 50.63 per cent year-over-year
Electra Battery Materials Corporation (NASDAQ:ELBM) has announced that its best-efforts brokered private placement financing has been fully subscribed, raising US$30 million in investor orders.
The company said it received strong participation from both existing shareholders and new institutional investors.
“We are grateful for the strong support of our shareholders and encouraged by the confidence shown by new institutional investors participating in this financing,” said Trent Mell, CEO.
“This comes at a pivotal moment for Electra, as we move towards commissioning North America’s first cobalt sulfate refinery,” he added.
Electra noted that the offering forms a key part of its plan to strengthen its capital structure and secure funding to advance the commissioning of its cobalt sulfate refinery in Temiskaming Shores, Ontario.
Cantor Fitzgerald Canada Corporation and ECM Capital Advisors Ltd. are acting as co-lead agents with a syndicate of agents.
Although the order book is full, the company said additional participation may still be possible through the exercise of the agents’ option, allowing for up to 15 per cent more units to be issued. Qualified investors are invited to contact the company or its agents to be considered.
Electra confirmed that the offering is expected to close on or about October 17, 2025, alongside the company’s previously announced financial restructuring.
Closing remains subject to shareholder approval at a special meeting scheduled for October 15, as well as customary regulatory approvals from the TSX Venture Exchange and notification to Nasdaq.
The company reiterated that the securities are not registered under the U.S. Securities Act and may not be offered or sold in the United States except under applicable exemptions.
Electra is advancing a critical minerals supply chain in North America. Its strategy centres on commissioning a cobalt sulfate refinery and includes growth initiatives in nickel refining and battery recycling.
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