Whitebox and Highbridge Push Recapitalization at Electra Battery Materials (ELBM)
Key Summary: On July 24, 2025, Whitebox Advisors (9.9%) and Highbridge Capital Management (9.9%) disclosed active engagement with management, the board, and stakeholders to explore recapitalization, debt restructuring, governance changes, and security transactions to support the company’s operations and cobalt sulfate refinery, and may seek board representation or control with advisor support.
M.Cap: $23mm | Electra Battery Materials Corporation engages in the acquisition and exploration of resource properties in the United States and Canada.
On July 24, 2025, Whitebox Advisors (9.9%) and Highbridge Capital Management (9.9%) in a separate filing stated that they are actively engaging with the management, board, debt holders, and other stakeholders to explore a wide range of transactions—such as recapitalization, debt restructuring, changes in governance or board composition, and potential exchanges or purchases of securities—to support the company’s operations and cobalt sulfate refinery. They stated that they may seek board representation or control and have retained advisors for this purpose. Source 1, Source 2
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