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Transaction
CHAR Technologies - ArcelorMittal XCarb strategic investment (Jul 2023)
Terms
- Announced
- 5 Jul 2023
- Instrument
- Equity
- Amount
- US$4.99mReported as CAD$6.6M (11,000,000 units), converted at 0.7565 USD/CAD (July 2023 average)
- Source
- chartechnologies.com
Parties
- Project developer
- CHAR Technologies
- Recipient type
- Technology company
- Country
- Canada
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis ArcelorMittal XCarb Innovation Fund Investor US$4.99m Sole provider: the whole transaction
Carbon
- Pathway
- Biochar
What happened
- CHAR Technologies closed a CAD$6.6m strategic investment by ArcelorMittal through ArcelorMittal XCarb and its XCarb Innovation Fund, issued as units of one common share and one-quarter warrant, leaving ArcelorMittal with about 12.5%. Source: 'the Company has closed a CAD$6.6M strategic investment'.
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