Unless Stellantis has waved conditions (extremely unlikely), its clear that E25 has secured US$100m and met the other conditions for the equity issue of US$15m @ A$1.00/share. It was a few months late but well done E25. With one of the conditions being a decision by the E25 board to proceed with the project there should be an ASX announcement around progress and next steps for the project.
A remaining question is how long is the extension that Stellantis has given in relation to the next $15m prepay facility upon securing US$200m of project financing. If Stellantis considered two months appropriate when they signed the deal in January, does E25 have to perhaps the end of August for this threshold?
E25 Price at posting:
56.0¢ Sentiment: None Disclosure: Held
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