Aqua Metals Prices $17.4 Million Public Offering of Common Stock
19 Julho 2023 - 9:00AM
Aqua Metals, Inc. (Nasdaq: AQMS) (“Aqua Metals” or the “Company”),
a pioneer in sustainable lithium-ion battery recycling, today
announced that it has priced its underwritten public offering of
15,820,000 shares of its common stock at a public offering price of
$1.10 per share. All of the securities in the underwritten public
offering are to be sold by the Company. Aqua Metals expects the
gross proceeds from this offering to be $17,402,000, before
deducting the underwriting discount and other estimated offering
expenses. Aqua Metals has granted the underwriter a 30-day option
to purchase up to 2,373,000 additional shares of common stock. Aqua
Metals expects to close the offering, subject to customary
conditions, on July 21, 2023.
Aqua Metals intends to use the net proceeds from
the proposed offering for working capital, including expenditures
related to the commencement of the Phase One build-out of its
recently acquired five-acre recycling campus at the Tahoe Reno
Industrial Center in McCarran, Nevada, and general corporate
purposes.
The Benchmark Company, LLC acted as sole
book-running manager for the offering. The Liquid Venture Partners
group at The Benchmark Company, LLC was responsible for sourcing
and executing the offering.
A shelf registration statement relating to the
shares of common stock to be issued in the proposed offering was
filed with the Securities and Exchange Commission (“SEC”) and
declared effective by the SEC. A preliminary prospectus supplement
relating to the proposed offering has been filed with the SEC and
is available on the SEC’s website at http://www.sec.gov. A final
prospectus supplement describing the terms of the proposed offering
will be filed with the SEC. Copies of the final prospectus
supplement and accompanying base prospectus relating to this
offering may be obtained, when available, from The Benchmark
Company, LLC, 150 East 58th Street, 17th floor, New York, NY 10155,
by email at prospectus@benchmarkcompany.com, or by calling +1
(212)-312-6700.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Aqua Metals
Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing
metals recycling with its patented AquaRefining™ technology. The
Company is pioneering a sustainable recycling solution for
materials strategic to energy storage and electric vehicle
manufacturing supply chains. AquaRefining™ is a low-emissions,
closed-loop recycling technology that replaces polluting furnaces
and hazardous chemicals with electricity-powered electroplating to
recover valuable metals and materials from spent batteries with
higher purity, lower emissions, and minimal waste. Aqua Metals is
based in Reno, NV and operates the first sustainable lithium
battery recycling facility at the company’s Innovation Center in
the Tahoe-Reno Industrial Center.
Safe Harbor
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 regarding the expected closing of the public
offering and the intended use of proceeds from the offering. The
offering is subject to market and other conditions and there can be
no assurance as to whether or when the offering may be
completed. Forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual results to differ materially, including those risks
disclosed in under the caption “Risk Factors” in the preliminary
prospectus supplement related to the offering. Aqua Metals cautions
readers not to place undue reliance on any forward-looking
statements. The Company does not undertake and specifically
disclaims any obligation to update or revise such statements to
reflect new circumstances or unanticipated events as they occur,
except as required by law.
Contact Information:
Investor RelationsBob Meyers
& Rob FinkFNK IR646-878-9204aqms@fnkir.com.
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