Electrovaya (TSE:ELVA) has released an update.
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Electrovaya Inc. has successfully closed the full exercise of an over-allotment option, raising an additional $1.7 million from its recent public offering, bringing the total proceeds to approximately $12.8 million. The funds will be used to meet loan conditions, refinance existing debt, and cover costs associated with its manufacturing facility in Jamestown, New York.
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