6-K - Electra Battery Materials Corporation | StockGist

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Electra Battery Materials Corporation reported its 2025 financial results, highlighting a successful recapitalization and restart of construction at its cobalt sulfate refinery. The company disclosed a net loss of $133.5 million for the year ended December 31, 2025, and noted a material uncertainty regarding its ability to continue as a going concern.

Key Takeaways

1Net loss of $133.5 million for the year ended December 31, 2025, compared to a net loss of $29.4 million in 2024.

2Cash and cash equivalents increased to $39.0 million as of December 31, 2025, from $3.7 million as of December 31, 2024.

3The company's Board of Directors approved a US$73 million construction budget to complete the refinery, with commercial production anticipated in the fourth quarter of 2027.

4The company completed a comprehensive financial restructuring in October 2025, converting approximately 60% of outstanding convertible debt into equity and securing a US$34.5 million equity financing.

5The auditor's report includes a material uncertainty paragraph regarding the company's ability to continue as a going concern due to recurring operating losses and negative cash flows.

6The company received a Nasdaq deficiency notice regarding non-compliance with the Minimum Bid Price Requirement on March 16, 2026.

Current Report Details

Event Type

Securities Issuance

Disclosure

Voluntary

Variant

6-K

Items Reported

6-K

Current Report on Form 6-K

Securities Issuance

Results of Operations

Year ended December 31, 2025

Metric	Value	Basis	Prior Period
Net loss	$133.5K		$29.4K
Basic and diluted loss per share	$4.16		$2.07

Executive & Director Changes

Alden Greenhouse

Director

Appointed

David Stetson

Director

Appointed

Joined the Board as a lender nominee in connection with the Company's recapitalization

Gerard Hueber

Director

Appointed

Jody Thomas

Director

Appointed

David Allen

Chief Financial Officer

Returned as Interim CFO

Following the resignation of Marty Rendall at the end of February 2026 to pursue another executive opportunity

Transaction Details

Debt / Financing

Instrument: Term loan
Principal: 38168
Rate: 8.99% if paid in cash or 11.125% if paid in kind
Maturity: 2028-10-22
Use of Proceeds: To complete construction of the Refinery, and provide general working capital

Exhibits (6)

6-K

FORM 6-K

99.1

EXHIBIT 99.1

99.2

EXHIBIT 99.2

99.3

EXHIBIT 99.3

99.4

EXHIBIT 99.4

99.5

EXHIBIT 99.5