I guess there was a reason for the investment last week, to fill the demand until bigger things happen next year and the "first" portion shares than the guarantee Exim is done should increase the value tremendous....
Today's 3 $ are less than 100 Mio, means 20 % of the coming earnings are only in..
That is a legitimate question I have done some research on that subject and I noticed in previous investments that Stellantis (and other OEMs) have made in upstream companies, they tend to avoid taking greater than a 20% equity stake in public companies. That is clearly to avoid becoming a “control person” from the perspective of US and Canadian securities laws. They often found other ways to invest more than 20% in these companies. Here is an example; E25 signs Offtake and Project Financing Agreement with Global Mobility Provider Stellantis: https://www.element25.com.au/site/pdf/4a673ee4-d735-452a-bd5a-4fc31494a37a/E25-Stellantis-Sign-Binding-Battery-Grade-Manganese-Offtake-and-Funding-Agreements.pdf In the E25 example, they took an equity position but supplemented that with a pre-purchase agreement.
pre -purchase is essentially debt thus non dilutive