March 18 (Reuters) - Carbon Revolution Ltd CBR.AX :
* RAISED A$25M THROUGH A NON- UNDERWRITTEN INSTITUTIONAL SHARE PLACEMENT
* TO CEASE RECRUITMENT ACTIVITY RELATED TO PLAN TO INCREASE PRODUCTION VOLUMES TO MINIMISE RISKS OF COVID-19 INFECTIONS
* CEASING RECRUITMENT TO IMPACT SALES VOLUME INCLUDED IN ITS FY20 FORECAST
* SEES TOTAL FY REVENUE ABOUT $54M
* DOES NOT EXPECT TO BECOME EBITDA POSITIVE DURING FY20
* SEES FY EBIT TO REDUCE BY ABOUT $5M VERSUS FY20 PROSPECTUS FORECAST