Enviva plunges on going concern warning, withdraws 2023 outlook

Enviva

09/11/2023 15:42

** Shares of industrial wood pellets producer Enviva  EVA.N 
plunge 76% to a record low of $0.90
    ** EVA raises doubt regarding its ability to continue as a
going concern
    ** Co says facing operational challenges and an unsupportive
wood pellet market dynamic of creating margins through spot
purchases or spot sales
    ** EVA says it may be in breach of certain of its covenants
under senior secured credit facility
    ** Co withdraws previous sales price per metric ton, net
loss, adjusted EBITDA, and total capital expenditures outlook
for 2023 and future years

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
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