Firm News August 25, 2025
Troutman Pepper Locke Advises Electra Battery Materials on Debt-to-Equity Conversion and $30 Million Financing
BOSTON – Troutman Pepper Locke advised Electra Battery Materials Corporation (Electra) (NASDAQ: ELBM; TSX-V: ELBM), a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries, in its term sheet and transaction support agreement with its lenders. Within the transaction and agreement, Electra will launch a $30 million financing and debt-to-equity conversion that will reduce its outstanding convertible debt by 60 percent as part of a comprehensive financial restructuring. For more information, see the press release.
Electra’s $30 million financing will include a $10 million conditional commitment from the lenders. Together, the transaction and equity financing are designed to strengthen Electra’s capital structure and provide the funding required to advance the commissioning of North America’s first cobalt sulfate refinery.
The Troutman Pepper Locke team that advised Electra was led by Tom Rose, Shona Smith, Jason Langford, Deborah Enea, Dave Meyers, and Matthew Divis.
Consistently recognized as a top-tier practice, Troutman Pepper Locke’s corporate attorneys regularly handle strategic deals for clients ranging from industry-leading, Fortune 100 corporations to emerging companies. Core areas of service include mergers and acquisitions, corporate finance, corporate governance, securities laws compliance, capital markets transactions, and other significant domestic and cross-border transactions, as well as general corporate counseling.
Troutman Pepper Locke
Troutman Pepper Locke helps clients solve complex legal challenges and achieve their business goals in an ever-changing global economy. With more than 1,600 attorneys in 30+ offices, the firm serves clients in all major industry sectors, with particular depth in energy, financial services, health care and life sciences, insurance and reinsurance, private equity, and real estate. Learn more at troutman.com.
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