FREYR Battery Inc

NYSE:FREYUnited States

Nov 6, 2024

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• Top Midday Gainers, from 2:15PM ET on Wednesday Nov 06, 2024 by MT Newswires

  2:15PM ET on Wednesday Nov 06, 2024 by MT Newswires
  Companies Mentioned: TSLA, FREY, DFS, COF
  02:15 PM EST, 11/06/2024 (MT Newswires) -- FREYR Battery (FREY) agreed to acquire Trina Solar's US solar manufacturing assets, a 5 gigawatt, 1.35 million square foot solar module manufacturing facility in Texas, for $340 million in cash and stock. F...

• FREYR Battery Reports Third Quarter 2024 Results, from 6:10AM ET on Wednesday Nov 06, 2024 by Dow Jones

  6:10AM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: FREY
  Operating lease liability (1,626) (3,212) ------- -------- Net cash used in operating activities (72,575) (53,978) ------- -------- Cash flows from investing activities: Proceeds from the return of property and equipment deposits 22,735 -- Proceeds from property related grants -- 3,500 Purchases of property and equipment (34,683) (168,811) Investments in equity method investee -- (1,655) Purchases of other long-term assets -- (1,000) ------- -------- Net cash used in investing activities (11,948) (167,966) ------- -------- Cash flows from financing activities: Payment for non-controlling interest (4,130) -- ------- -------- Net cash used in financing activities (4,130) -- ------- -------- Effect of changes in foreign exchange rates on cash, cash equivalents, and restricted cash (3,036) (13,240) ------- -------- Net decrease in cash, cash equivalents, and restricted cash (91,689) (235,184) Cash, cash equivalents, and restricted cash at beginning of period 275,742 563,045 ------- -------- Cash, cash equivalents, and restricted cash at end of period $184,053 $ 327,861 ======= ======== Supplementary disclosure for non-cash activities: Accrued purchases of property and equipment $ 6,133 $ 11,187 Reconciliation to condensed consolidated balance sheets: Cash and cash equivalents $181,851 $ 299,419 Restricted cash 2,202 28,442 ------- -------- Cash, cash equivalents, and restricted cash $184,053 $ 327,861 ======= ========
  

• Press Release: FREYR Battery Reports Third Quarter 2024 Results, from 6:10AM ET on Wednesday Nov 06, 2024 by Dow Jones

  6:10AM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: FREY

• FREYR Battery Announces Transformative Acquisition of Trina Solar's U.S. Manufacturing Assets, Actions to Strengthen Board of Directors and Management Team, from 6:01AM ET on Wednesday Nov 06, 2024 by Dow Jones

  6:01AM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: FREY
  
  ability to replicate global supply chains in the U.S. are forward-looking statements.
  
  These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement or could otherwise cause the transaction to fail to close; (2) the outcome of any legal proceedings that may be instituted against the Company following the announcement of the transaction; (3) the inability to complete the transaction, including due to failure to satisfy conditions to closing of the transaction; (4) any failure to obtain lender's consent with respect to project finance prior to closing; (5) any material liabilities identified post-signing that may lead to the termination of the transaction agreement; (6) the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction; (7) the ability to recognize the anticipated benefits of the transaction; (8) costs related to the transaction; (9) changes in applicable laws or regulations; (10) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (11) any material modifications or repeal of the U.S. Inflation Reduction Act ("IRA"); (12) any enacted legislation that could limit the ability of companies with a certain percentage of Chinese ownership to receive tax credits under IRA; (13) any potential risk that the Chinese equity ownership in the Company may impact FREYR's ability to develop a solar cell facility in the U.S.; (14) any increases to commodity pricing or US tariff and countervailing duty levels; and (15) potential operational risks associated with commissioning and ramp-up of production. The Company cautions that the foregoing list of factors is not exclusive. Most of these factors are outside FREYR's control and are difficult to predict. Additional information about factors that could materially affect FREYR is set forth under the "Risk Factors" section in (i) FREYR's post-effective amendment no. 1 to the Registration Statement on Form S-3 filed with the Securities and Exchange Commission (the "SEC") on January 4, 2024, (ii) FREYR's Registration Statement on Form S-4 filed with the SEC on September 8, 2023 and subsequent amendments thereto filed on October 13, 2023, October 19, 2023 and October 31, 2023, and (iii) FREYR's annual report on Form 10-K filed with the SEC on February 29, 2024, and FREYR's quarterly reports on Form 10-Q filed with the SEC on May 8 and August 9, 2024, and available on the SEC's website at www.sec.gov. Except as otherwise required by applicable law, FREYR disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this presentation. Should underlying assumptions prove incorrect, actual results and projections could differ materially from those expressed in any forward-looking statements.