Deal: Tritium DCFC Limited (Tritium) has been advised on its new capital package.

Value: The new capital package comprises an increased US$150 million debt facility and a committed equity facility of up to US$75 million.

Area: Banking and finance

Key players: The Corrs Chambers Westgarth team was led by partners Clare Corke and Alexandra Feros and supported by special counsel Julie Myers and Annabel Doneley. The team worked closely with Latham & Watkins LLP as the US and UK legal advisers to Tritium.

Deal significance: Tritium is described as a global developer and manufacturer of direct current (DC) fast-charging technology for electric vehicles (EVs).

The entity listed on the Nasdaq in January this year — the first successful merger between an Australian company and a US special purpose acquisition company (SPAC), according to a statement from Corrs Chambers Westgarth.

“The new debt facility is provided by a syndicate of lenders comprising Cigna Investments Inc, Barings LLC and Riverstone Energy Limited funds, [which] have extended the existing US$90 million by $US60 million. The committed equity facility has been established with B. Riley Principal Capital I, LLC,” the firm said.

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“The transaction will provide Tritium with a net injection of incremental capital of up to US$135 million to fund working capital, accelerate product development and to support Tritium’s operations and expansion around the world.”

Commenting further on the matter, Corrs lead partner Alexandra Feros said: “Having worked with Tritium for a number of years, including their SPAC merger and Nasdaq listing, it has been a pleasure advising the team on their new capital package. With increasing global demand for electric vehicles and Tritium’s DC technology, the capital will support their growth trajectory.”