Electra Battery Materials Corporation announced on September 16, 2025, amendments to its previously disclosed recapitalization and restructuring initiative. The company will now convert approximately US$41.3 million of outstanding secured convertible notes, plus accrued interest, into approximately 55 million units.
The units will be issued at a deemed exchange price of US$0.75 per unit, an adjustment from the previously proposed US$0.60 per share, as the TSX Venture Exchange did not grant a waiver for the lower pricing. Each unit consists of one common share and one common share purchase warrant.
The restructuring will reduce total debt under the notes to approximately US$27.5 million, with the remaining 40% of the notes exchanged into a new three-year term loan. Additionally, Electra has agreed to issue a one-time bonus of 3,822,341 common shares to the lenders at a deemed issue price of US$0.90 per share.
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