Electrovaya Inc. Announces Proposed Public Offering of Common Shares

Executive Summary

• Electrovaya Inc. announced the commencement of an underwritten public offering of its common shares, utilizing both U.S. and Canada base‑shelf prospectuses filed in September 2024.
• The company granted underwriters a 30‑day option to purchase up to an additional 15 % of the offered shares at the public offering price.
• Net proceeds are intended for investment in energy‑as‑a‑service projects, next‑generation battery and separator R&D, and general working capital.

Key Details

• Offering Structure: Underwritten public offering of Electrovaya common shares; all shares being sold by the company (no secondary sales).
• Underwriter Option: 30‑day option to purchase up to an additional 15 % of the offered shares at the same price.
• Book‑Running Manager: Oppenheimer & Co. Inc. (sole book‑running manager).
• Lead Manager: Raymond James Ltd. (lead manager).
• Securities Filings:
• U.S. Base Shelf Prospectus declared effective 25 Sept 2024 (SEC).
• Canada Base Shelf Prospectus dated 17 Sept 2024 (SEDAR+).
• Prospectus supplements to be filed and made available within two business days of this release on SEC.gov and SEDAR+.
• Use of Proceeds:
• Investment in energy‑as‑a‑service initiatives.
• Research & development of next‑generation battery technologies and separators.
• Working capital and general corporate purposes.
• Pricing & Size: Offering price to be set “in the context of the market” at pricing; final terms (size, price) will be determined at that time. No guarantee the offering will close or its ultimate size.
• Closing Conditions: Subject to customary conditions, including listing of the common shares on both the Toronto Stock Exchange (TSX) and Nasdaq Capital Market (NASDAQ), and any required approvals from those exchanges.
• Investor Access: Prospectus supplements can be obtained free of charge from Oppenheimer & Co. Inc. (NY) or Raymond James Ltd. (Toronto) via mail, phone, or email; also available online on SEC and SEDAR+ portals.

Notable Quotes

(No direct CEO/President quotes were included in the release.)