Stellantis will also invest $30 million (approx. AUD 43 million) inInvest ELEMENT 25, which will cover part of the construction costs:The first tranche ($15 million) will be a share placement ofStellantis drawn. The price Stellantis will pay is the volume weighted average price 20 days before thePublication of the feasibility study, but at least AUD 1 per share.Stellantis will advance the second $15 million to ELEMENTpay for future deliveries.There are still some requirements to be met. For one mustStellantis still complete the due diligence and ELEMENT 25 prepare the feasibility study by April 30, 2023. To receive the $15 million in equity, ELEMENT must provide at least $100 million in project funding, also by April 30, 2023:To get the second $15 million upfront payment, mustELEMENT by June 30, 2023 at least 200 million USDDemonstrate financing capacity.
I'm curious when and with whom the contract will be published (Ford, Tesla, VW?)!!
Ann: Signs Offtake & Project Financing Agree with Global Mobility, page-8
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