Electra Battery Materials Corp Stock Price, News & Analysis

Electra Battery Materials (NASDAQ: ELBM) announced on October 22, 2025 the closing of a US$34.5M financing and a US$40M debt equitization, bringing total secured commitments to US$82M to fully fund construction and commissioning of North America’s first cobalt sulfate refinery in Temiskaming Shores, Ontario. The transactions reduce total debt from US$67M to US$27M, issue 46,000,000 Units at US$0.75 (with warrants exercisable at US$1.25), and result in issuance of 27,128,396 common shares, 55,041,712 warrants and 31,735,657 pre-funded warrants to lenders. The refinery is expected to produce up to 6,500 tonnes of battery-grade cobalt sulfate annually, enough for batteries for about 1 million vehicles.

Electra (NASDAQ: ELBM) announced results from its special meeting held on October 15, 2025 in Toronto.

Shareholders elected all seven director nominees with each receiving over 95% support; David Stetson was appointed Chair and John Pollesel became Lead Director. The meeting approved: (i) previously announced Restructuring Transactions with certain convertible note holders; (ii) the creation of a Control Person designation related to those transactions; and (iii) an amendment authorizing a reverse stock split of up to 1-for-3.5 (final ratio at board discretion). A total of 2,123,906 common shares (about 12% of issued shares) were represented at the meeting.

Electra Battery Materials (NASDAQ: ELBM) warns that the ongoing Canada Post strike has disrupted mailing of its Meeting Materials for the Annual General and Special Meeting. Shareholders are urged to obtain control numbers and vote online before the deadline. The Meeting is set for October 15, 2025 and votes must be received by 10:00 a.m. ET on October 10, 2025. Shareholder approval is being sought for restructuring transactions and board elections including Gerard Hueber and Jody Thomas. Contact details and voting instructions are provided.

Electra Battery Materials (NASDAQ: ELBM) has successfully secured full subscription for its US$30 million private placement financing, attracting both existing shareholders and new institutional investors. The offering, co-led by Cantor Fitzgerald Canada Corporation and ECM Capital Advisors Ltd., is crucial for funding North America's first cobalt sulfate refinery in Temiskaming Shores, Ontario.

The financing includes an Agents' Option for up to 15% additional Units and is expected to close around October 17, 2025, concurrent with the company's financial restructuring. The closing requires shareholder approval at the October 15 special meeting and regulatory approvals from TSX Venture Exchange and Nasdaq.

Electra Battery Materials (NASDAQ: ELBM) has nominated Jody Thomas, former National Security and Intelligence Advisor to the Prime Minister of Canada, to its Board of Directors. Thomas brings extensive experience in national security, defense, and public administration, having served as Deputy Minister of National Defence and Commissioner of the Canadian Coast Guard.

Thomas will stand for election at Electra's Annual General Meeting on October 15, 2025. If approved, she will join a seven-member board, following recent appointments of David Stetson and Gerard Hueber. Her nomination aligns with Electra's strategy to strengthen North America's critical minerals supply chain for electric vehicle batteries.

Electra Battery Materials (NASDAQ: ELBM) has announced significant amendments to its recapitalization and restructuring initiative, focusing on the completion of North America's first battery-grade cobalt sulfate refinery. The company will convert approximately US$41.3 million of outstanding Notes plus accrued interest into about 55 million units at US$0.75 per Unit.

The restructuring will reduce 60% of convertible debt, lowering total debt to US$27.5 million. The remaining 40% will be converted into a new three-year term loan. Each Unit consists of one Common Share and one Warrant, with Warrants exercisable at US$1.25 per share for 36 months. Additionally, the company will issue a one-time bonus of 3,822,341 common shares at US$0.90 per share to the Lenders.

Electra Battery Materials (NASDAQ: ELBM) has announced terms for a US$30 million brokered private placement to support its ongoing financial restructuring. The offering includes a minimum of 40 million units at US$0.75 per unit, with each unit comprising one common share and one purchase warrant exercisable at US$1.25.

The financing, supported by a US$10 million conditional commitment from Lenders, will primarily fund the completion of North America's first battery-grade cobalt sulfate refinery in Temiskaming Shores, Ontario. The offering is expected to close around October 15, 2025, subject to shareholder approval and regulatory clearances.

Proceeds will also advance the company's black mass recycling program, repay US$2 million in promissory notes, and support working capital needs. If proceeds exceed US$34.5 million, excess funds will be used to repurchase senior secured convertible notes.

Electra Battery Materials (NASDAQ: ELBM) has secured a term sheet for C$17.5 million in proposed funding from Invest Ontario for its cobalt sulfate refinery construction in Temiskaming Shores. The facility, requiring a total investment of C$100 million, will be North America's first dedicated battery-grade cobalt sulfate refinery with an annual production capacity of 6,500 tonnes, enough to support 1 million electric vehicles.

The project has garnered significant government support, including a US$20 million award from the U.S. Department of Defense, with total potential government funding reaching US$48 million. The company is implementing a restructuring plan targeting ~60% reduction in convertible debt and a US$30 million equity raise. The facility will create over 50 new jobs and serve as a foundation for future battery materials initiatives.

Electra Battery Materials Corporation (NASDAQ: ELBM) has nominated Gerard Hueber, Rear Admiral, U.S. Navy (Retired), to its Board of Directors. Hueber brings extensive experience from his naval career and most recently served as Vice President of Naval Power Requirements and Capabilities at Raytheon, overseeing an $8 billion naval portfolio.

The nomination follows Electra's recently announced restructuring and recapitalization from August 21, 2025, and comes after the addition of David Stetson to the board. Hueber's appointment aims to strengthen the company's strategic position in delivering critical minerals for North America's energy security and reducing reliance on China.