Electra Battery increases at-the-market program

Executive Summary

• Electra Battery Materials Corp. has upsized its at-the-market (ATM) equity offering program to an aggregate offering price of up to $25 million (U.S.), increasing the capacity from the previous limit.
• The offering is being conducted through H.C. Wainwright & Co. LLC and is registered under Form F-3, with the prospectus supplement filed on February 20, 2026.
• Net proceeds are intended for working capital and general corporate purposes, specifically including expenditures related to the commissioning of the company's Ontario, Canada, sulphate refinery.

Key Details

• Offering Size: Upsized to an aggregate offering price of up to $25 million (U.S.).
• Previous Sales: The $25 million total includes $5.5 million (U.S.) in sales previously made under the ATM agreement pursuant to a prospectus supplement dated December 11, 2025.
• Agent: H.C. Wainwright & Co. LLC.
• Instrument: Common shares in the capital of the company.
• Distribution Method: At-the-market offering as defined in Rule 415(a)(4) under the Securities Act, including sales directly on or through Nasdaq Capital Market.
• Pricing: Shares distributed at market prices prevailing at the time of sale; prices may vary between purchasers and during the distribution period.
• Jurisdiction: Sales made in the United States only; no common shares will be sold on the TSX Venture Exchange or any other trading market in Canada.
• Use of Proceeds: Working capital and general corporate purposes, which may include expenditures related to the commissioning of the Ontario, Canada, sulphate refinery.
• Regulatory Filings: Registration statement on Form F-3 (File No. 333-288364) declared effective by the SEC on December 11, 2025; prospectus supplement filed with the SEC on February 20, 2026.
• Liquidity Context: The company states that existing cash, cash equivalents, and other sources of liquidity (including potential debt financing from government entities) are believed to be sufficient to finance the refinery's planned mechanical completion, though plans are subject to change.

Notable Quotes

• "The company intends to use the net proceeds from the ATM for working capital and general corporate purposes, which may include expenditures related to the commissioning of its Ontario, Canada, sulphate refinery."