Origin Materials shares surge 11.28% after-hours after announcing $15M convertible debt financing with $90M potential to fund growth and maintain cash reserves.

Origin Materials surged 11.28% in after-hours trading following the announcement of a $15 million initial tranche under a $90 million convertible debt facility, alongside a $20 million equipment financing term sheet. The financing strengthens the company’s balance sheet, funds CapFormer production expansion, and supports its "water first" commercialization strategy, including Berlin Packaging’s first PET cap order. Management emphasized the flexibility to optimize capital costs and maintain 2026 revenue guidance of $20–$30 million, while progress on technical milestones (e.g., impact resistance) reinforces commercialization prospects. These developments offset regulatory risks highlighted in separate reports, as the company remains on track for CapFormer line completions and revenue growth.