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2025-01-12
FREYR Battery, Inc. FREY shares are trading higher on Tuesday. The company closed its acquisition of Trina Solar's 5 GW solar module manufacturing facility in Wilmer, Texas, announced last month . The transaction includes $100 million in cash, a $50 million loan repayment, a $150 million loan note, and 9.9% of FREYR's stock, with a potential additional 11.5% stake through an $80 million convertible note. FREYR also assumed $235 million in facility debt. The Wilmer, Texas, solar module plant is on track, with Line 1 completed and Line 2 commissioning underway. Full production is expected by the second half of 2025. FREYR plans to begin U.S. solar cell facility construction in second quarter of 2025, with regulatory filings starting in the first quarter of 2025. Approximately 30% of the production volume is already secured through firm offtake agreements with U.S. customers. FREYR also secured $50 million from Encompass Capital Advisors, with an additional $50 million contingent on the solar cell facility's construction. This acquisition enhances FREYR's solar and battery capabilities, positioning it for growth in renewable energy. Outlook : FREYR reiterated its 2025 EBITDA guidance of $75 million–$125 million, aiming for a $175 million–$225 million run rate by year-end . The company expects to achieve fully integrated operations to achieve an annual EBITDA of $650 million–$700 million . Daniel Barcelo, FREYR's Chairman of the Board and CEO said, "We are grateful for the continued support of our shareholders, and we look forward to advancing our key objectives to create meaningful shareholder value and to enhance our competitive position in 2025, highlighted by the planned start of construction of our solar cell manufacturing facility and other project development opportunities that are emerging for FREYR and Trina to mutually pursue." Last month, the company reported a third-quarter 2024 EPS loss of $(0.20), missing the consensus of $(0.18) . As of September 30, 2024, FREYR had cash, cash equivalents and restricted cash of $184.1 million. Price Action : FREY shares are up 13.30% at $3.90 at the last check on Monday. Read Next : Zoom Communications, Lockheed Martin And More: CNBC's ‘Final Trades' Photo Courtesy of Freyr Battery © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.casino online universe game

Pakistani police arrest thousands of Imran Khan supporters ahead of rally in the capitalConnectLife blood drives set for December

Winless in rivalry, Dan Lanning, No. 1 Oregon determined to tame HuskiesChristmas Eve didn’t stop the Red Sox from making a minor move. Boston traded catcher/infielder Mickey Gasper to the Twins for lefty reliever Jovani Morán, the team announced Tuesday afternoon. The move, much like Saturday’s trade that sent lefty Cam Booser to the White Sox , clears a 40-man roster spot. Boston will need one to make the addition of starter Walker Buehler official in the coming days. Morán, who turns 28 in late April, will not go on Boston’s 40-man roster but does have a fair amount of big league time with the Twins. He emerged as an important member of Minnesota’s bullpen in 2022 (posting a 2.21 ERA and striking out 54 batters) and in total, has a 4.15 ERA in 91 innings over the last three years. The Puerto Rico native struggled to a 5.31 ERA in 43 games, then missed the end of the season due to a forearm strain before undergoing Tommy John surgery after the year. The Twins non-tendered him, then re-signed him to a minor league contract before he missed all of 2024. It’s unclear if Morán will be ready for Opening Day, but when he is healthy, he’ll provided a left-handed depth option for the Red Sox, who have changed up that area of their roster so far this winter by adding veterans Aroldis Chapman and Justin Wilson and dealing off Booser. Wilson, Chapman, Brennan Bernardino, Zach Penrod and the rehabbing Chris Murphy are on the 40-man roster, Morán will likely begin the year at Triple-A. He has always posted high strikeout numbers (11.1 K/9 in the majors) but has been wild, too (5.1 BB/9). He has shown an ability to get both righties and lefties throughout his big league career. Gasper, a 29-year-old New Hampshire native who went to Bryant University , made his debut for Boston last year, going hitless (0-for-18) while striking out eight times and working four walks. He was offensively dominant in the minors, though, batting .328 (102-for-311) with a .970 OPS in 92 games split between Double-A Portland and Triple-A Worcester. Gasper had fallen down the depth chart with Boston’s trade for ex-Yankee Carlos Narvaez ; Narvaez is expected to serve as the backup to starter Connor Wong but the Sox are still in the market for more additions. More Red Sox coverage

Upexi, Inc. UPXI shares are trading lower. The company filed a complaint in the U.S. District Court for Nevada to investigate those behind the manipulative fractional share round-up scheme during its reverse stock split. The Details: Upexi believes that through the discovery process the company will be able to decipher who engaged in the manipulative trading transactions. The company completed a 12-for-1 reverse stock split in early October. Before the split, it had fewer than 5,000 shareholders. Following the split, five brokerage firms requested 199,059 of the 202,183 total roundup shares, which account for about 19% of Upexi’s outstanding stock. This represents approximately 40 times the number of shareholders the company had before the reverse stock split. “The company has taken the first and precedent-setting action in exposing the blatant manipulation around reverse stock splits. Since our previous release regarding this issue, I have been contacted by a number of companies who also were victims of this damaging stock manipulation scheme. I am astonished by the extent of the evidentiary support and encouragement I have received from multiple sources to advance our claims against those whom we believe manipulated the shares of Upexi and other securities,” said Allan Marshall , CEO of Upexi. Related Link: Larry Page, Google Co-Founder, Said He’d Leave His Fortune To Elon Musk Over Charity Because Of His Plans ‘To Go To Mars To Back Up Humanity’ UPXI Price Action: At the time of writing, Upexi shares are trading 11.9% lower at $4.97, according to data from Benzinga Pro . Image: Photo via Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Meta faces April trial in FTC case seeking to unwind Instagram merger

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