Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Following a one-month suspension, carbon-fibre wheel maker <strong><a href="https://www.smartkarma.com/entities/carbon-revolution-ltd" target="_blank" data-smartkarma-citation="entities:29071:1" rel="noopener">Carbon Revolution Ltd (CBR AU)</a></strong> announced it will merge (and delist from the ASX) with Twin Ridge Capital, a US-listed SPAC.</li>
<li>CBR said it also requires upward of A$30mn in bridging finance to fund near-term costs (through to June 2023). The share price promptly tanked 50% upon the resumption of trading. </li>
<li>It's an intriguing situation with an implied notional share price of A$1.49/share under the merger, versus the current price of A$0.15. So I dig a little deeper.</li>
</ul>


Following a one-month suspension, carbon-fibre wheel maker Carbon Revolution Ltd (CBR AU) announced it will merge (and delist from the ASX) with Twin Ridge Capital, a US-listed SPAC.
CBR said it also requires upward of A$30mn in bridging finance to fund near-term costs (through to June 2023). The share price promptly tanked 50% upon the resumption of trading. 
It's an intriguing situation with an implied notional share price of A$1.49/share under the merger, versus the current price of A$0.15. So I dig a little deeper.


Australia

Carbon Revolution Ltd manufactures and supplies auto parts and equipment. The Company offers carbon fibre wheels and other lightweight technologies. Carbon Revolution serves customers worldwide.

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Carbon Revolution Ltd (CBR AU)

Carbon Revolution: SPACed & Smacked

CBR's current shares price implies a 90% decline in the MergeCo price, 100% redemption from existing shareholders, and full issuance to CEF. But...

David Blennerhassett

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