Company Overview: Carbon Revolution Public Limited (NASDAQ: CREV, formerly ASX: CBR) is a global technology company and Tier-1 supplier of lightweight carbon fibre wheels to the global automotive industry. Carbon Revolution’s fibre wheels are 50% lighter than traditional aluminium rims and are increasingly used by automotive manufacturers for electric cars, where cutting the overall weight of the car is important.

1.1 Latest Updates

• Carbon Revolution (Australia) a tier-1 OEM supplier and global manufacturer of carbon fibre vehicles, merged with special purpose acquisition vehicle (SPAC), Twin Ridge Capital Acquisition Corp listed on New York Stock Exchange (NYSE) and begin trading on NASDAQ under the symbol ‘CREV’ and be delisted from the ASX. The implementation date was 3 November 2023.
• The Merged entity (“MergeCo”) has appointed Computershare Trust Company as an exchange agent to facilitate the existing Carbon Revolution shareholders who held shares in the registered form prior to the implementation date and who did not validly complete the DTC election process. The facility will be provided not more than 180 calendar days.
• If the existing shareholder do not complete the DTC election and DWAC instruction, he is considered as registered shareholder (as registered shareholder the shares are held with Computershare, waiting for the direction). Shares will not be allowed to trade during this process.
• The shareholder can either elect to transfer their shares to a US broker (DTC participant broker), share trading can be done after the process completion or can receive their shares directly on the Carbon Revolution plc share register, as a registered shareholder. Any later transfer of shares will involve administrative steps, costs and could be subject to Irish stamp duty (1% of the higher of price paid or the market value of Mergeco shares).
• The arrangement provides for Carbon Revolution shareholders to be issued 00643121435972925 MergeCo shares per Carbon Revolution Share that they held on to record date 23 Oct’23.
• The transaction is anticipated to unlock critical investment capital for Carbon Revolution to expand its operations globally while accelerating its path to profitability. 

1.2 Stock Update

CREV is ongoing a commissioning of the first phase of the Mega-line, along with record production of wheels. The company has raised significant capital to fund its growth to fuel its vision to be a global leader in lightweight wheels. The stock has witnessed a dip of ~20% in the last one month. At the market close of 15 December 2023, CREV was trading at a price of USD 28.67.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 15 December 2023. The reference data in this report has been partly sourced from REFINITIV. 

Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.