Electra Battery Materials reports fully subscribed private placement financing

Electra Battery Materials (ELBM) eports that its previously announced best-efforts brokered private placement financing is fully subscribed, with investor orders totaling $30M. Electra received strong participation from both existing shareholders and new institutional investors. The Offering is being conducted with Cantor Fitzgerald Canada Corporation and ECM Capital Advisors Ltd. acting as co-lead agents, together with a syndicate of agents and forms a key part of Electra’s comprehensive plan to strengthen its capital structure and secure funding to advance the commissioning of North America’s first battery-grade cobalt sulfate refinery, located in Temiskaming Shores, Ontario. See September 12, 2025 news release for additional details of the Offering. Although the order book is fully subscribed, the Company notes that participation in the Offering may still be available for qualified investors through the exercise of the Agents’ Option to sell up to an additional 15% of Units to be issued under the Offering at the Issue Price. Interested investors who wish to be considered for participation under the Agents’ Option should contact the Company or its agents as soon as possible. Existing shareholders wishing to participate in the Offering have until September 26, 2025, at 5:00pm ET. Shareholders who wish to subscribe should contact the Company as soon as possible to confirm their interest. The Offering is expected to close on or about October 17, 2025, concurrently with the closing of Electra’s previously announced financial restructuring.