Electrovaya agrees to invest USD 1.4 million in Janus Electric
ELVA•Electrovaya agreed to invest approximately AUD 2 million (USD 1.4 million) in Janus Electric through a direct placement of up to 4.2 million shares. The investment accompanies a battery supply agreement with approximately $26 million in initial orders.
1. Placement terms
The placement shares will be priced at the five-day volume-weighted average before signing. Janus will also issue up to 6.3 million warrants at no additional cost, exercisable at 125% of the placement price and expiring three years after issuance. Completion remains subject to required approvals, and proceeds will fund working capital.
