Electrovaya Inc. Unveils New Offering of Common Shares

Electrovaya Inc. Public Offering Announcement

Electrovaya Inc. (“Electrovaya” or the “Company”) (NASDAQ: ELVA; TSX: ELVA) has recently made an exciting announcement regarding its intention to launch an underwritten public offering of common shares. This initiative is aimed at bolstering its growth in the lithium-ion battery industry.

Details of the Offering

The upcoming public offering will take place under a shelf registration statement approved by the Securities and Exchange Commission (SEC). This registration enables Electrovaya to offer its shares effectively, ensuring compliance with both U.S. regulations and Canadian distribution requirements, though shares will not be available in Québec.

Management Team Behind the Offering

Roth Capital Partners, Raymond James Ltd., and Craig-Hallum Capital Group LLC have been appointed as co-lead managers for this public offering. Their expertise will assist Electrovaya in navigating the complexities of the capital markets.

Use of Proceeds

Electrovaya plans to allocate the net proceeds from this offering strategically. The funds are primarily intended to fulfill cash collateral requirements for a loan recently approved by the Export-Import Bank of the United States, as earlier disclosed by the Company. Additionally, proceeds will go towards reducing existing working capital facility amounts before a planned bank refinancing, as well as addressing costs related to Electrovaya's manufacturing facility in Jamestown, New York.

Pricing and Completion of the Offering

While the pricing for the offering is yet to be determined, it is expected to align with current market conditions. The completion of the offering is subject to standard closing conditions, including listings on both the Toronto Stock Exchange (TSX) and the Nasdaq Capital Market. Potential investors are advised to stay updated as final terms will be confirmed at the time of pricing.

Preliminary Prospectus Availability

A preliminary prospectus supplement related to the offering will be submitted to the SEC for review. Investors will have access to this documentation for free on the SEC’s website, ensuring transparency throughout the process. Furthermore, potential investors can expect to find relevant materials on the Company’s profile in the SEDAR+ database.

Contact Information for Interested Investors

Electrovaya encourages prospective investors to engage with their offerings responsibly. Copies of the preliminary prospectus can be requested from Roth Capital Partners, LLC. The team's contact details remain readily accessible for inquiries to promote informed investment decisions.

Company Overview: Electrovaya Inc.

Electrovaya Inc. (NASDAQ: ELVA; TSX: ELVA) is dedicated to pioneering advancements in the energy sector. With a mission to combat climate change, Electrovaya produces high-quality lithium-ion batteries that do not compromise on safety or sustainability. They focus on various applications, including energy storage and electric transportation. The Company operates out of two main facilities in Canada and is actively developing a substantial manufacturing site in Jamestown, New York, which will form part of its ambitious gigafactory plans.

Frequently Asked Questions

What is Electrovaya's recent public offering about?

Electrovaya is launching an underwritten public offering of its common shares to enhance its growth in the lithium-ion battery sector.

Who is managing the Electrovaya public offering?

Roth Capital Partners, Raymond James Ltd., and Craig-Hallum Capital Group LLC are co-lead managers for the offering.

How will Electrovaya use the proceeds from this offering?

The proceeds are intended for cash collateral for a loan, reducing working capital facility amounts, and covering costs related to their Jamestown manufacturing facility.

When will Electrovaya set the pricing for the offering?

The offering pricing will be aligned with market conditions and finalized at the time of the offering.

Where can I find more information about Electrovaya's offering?

Investors can access the preliminary prospectus supplement and related documents through the SEC's website and the SEDAR+ system for Canadian filings.

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