- Tritium DCFC ( NASDAQ: DCFC ) on Tuesday announced a $150M debt facility from a consortium of investors and a $75M committed equity facility established with B. Riley Principal Capital II.
- This funding will be used for working capital, product development, and operational support and expansion.
- The working capital will help DCFC ramp up production and fulfill the large number of orders on hand from its blue-chip customer base.
- The $150M senior debt facility will refinance the existing $90M facility and provide a net injection of $60M.
- The facility has a three-year term and 8.5% cash coupon supplemented with the issue of warrants to lenders for the purchase of DCFC shares.
- The committed equity facility will provide DCFC with the right, without obligation, to sell and issue up to $75M of its shares to B. Riley at its sole discretion.
For further details see:
Tritium DCFC announces $150M debt facility, $75M committed equity facility