Electra Battery Materials announces agreement with holders of its debt

Electra Battery Materials (ELBM) announces an agreement with the holders of its senior secured debt that enhances the Company’s financial flexibility. Under this agreement, lenders have agreed to defer all interest payments until February 15, 2027, allowing Electra to invest its capital towards completing its cobalt refinery rather than debt servicing. The agreement, entered into on March 5, 2025, covers all outstanding 8.99% senior secured convertible notes and 12% senior secured convertible notes, collectively referred to as the “Notes”. As consideration for this deferral, Electra will pay additional interest of 2.25% per annum on the 2028 Notes and 2.5% per annum on the 2027 Notes, calculated on the principal amounts of the Notes. “We appreciate the support and flexibility of our noteholders in this matter, which provides Electra with financial latitude as we continue to focus on our strategic initiatives. This agreement reflects a constructive partnership with our stakeholders and reinforces our commitment to responsible capital management,” said Marty Rendall, Electra’s CFO.