M&A - Carbon Revolution Public Ltd Co

Form Type: 20-F

Filing Date: 2025-05-30

Corporate Action: Merger

Type: Update

Accession Number: 000114036125020877

Filing Summary: On November 3, 2023, Carbon Revolution Public Limited Company completed a Business Combination with Twin Ridge Capital Acquisition Corp. This involved merging Twin Ridge with Carbon Revolution Public Limited Company, which then became a parent company of Carbon Revolution Limited. The merger resulted in shareholders of Twin Ridge receiving Ordinary Shares of the Company in exchange for their existing Twin Ridge shares. This transaction included implementing a scheme of arrangement that led to Carbon Revolution Limited becoming a wholly-owned subsidiary of the Company. The merged entity's Ordinary Shares and Public Warrants commenced trading on Nasdaq under the symbols CREV and CREVW, respectively. The report serves as an annual update for the fiscal year ending June 30, 2023, highlighting the Company's financial conditions and various risks associated with operational cash flow and future financial projections. Additional funding of US$5.4 million is anticipated to be required to maintain operational viability over the next 12.5 months as outlined in cash flow projections.