Northvolt’s Rescue Funding Round On Track to Close Next Week

Sweden’s Northvolt AB is likely to complete an expected funding round of about $300 million next week, as the troubled battery-cell maker races to get its finances on a more stable footing, according to a person familiar with the matter.

The final steps are being drawn out because of the complex documentation needed for the deal involving customers, investors and lenders, said the person, who asked not to be identified discussing a private matter. While the bailout is progressing, the timeline to complete the new package may yet move, the person added.

Earlier this month, Bloomberg News reported that Northvolt ...