RPM Automotive Group Ltd. (AU:RPM) has released an update.
RPM Automotive Group Ltd has successfully secured $4.0 million from investors to fund its innovative tyre recycling program and to repay part of its debt to Collins Street Value Fund, bolstering its balance sheet. The capital will also aid in the company’s next growth phase, which includes leveraging its existing network to recycle 54,000 tonnes of scrap tyres within five years, with expectations of an increase in EBITDA to $16 – $18 million by FY25. The share placement comes with an offer of new options, potentially quoted on ASX, emphasizing RPM’s commitment to sustainability and financial growth.
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