Aqua Metals Announces Closing of $20 Million Public Offering of Common Stock, Including Full Exercise of Over-Allotment Option
21 Juillet 2023 - 10:05PM
Aqua Metals, Inc. (Nasdaq: AQMS) (“Aqua Metals” or the “Company”),
a pioneer in sustainable lithium-ion battery recycling, today
announced the closing of its $20 million underwritten public
offering of 18,193,000 shares of its common stock, including
2,373,000 shares of its common stock issued pursuant to the full
exercise by the underwriter of its over-allotment option. The
public offering price, before the underwriter’s discount and
commissions, for each share of common stock was $1.10. All of the
securities in the underwritten public offering were sold by the
Company.
Aqua Metals intends to use the net proceeds from
the 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 issued in the offering was filed with the
Securities and Exchange Commission (“SEC”) and declared effective
by the SEC. A final prospectus supplement relating to the offering
has been filed with the SEC and is available on the SEC’s website
at http://www.sec.gov. Copies of the final prospectus supplement
and accompanying base prospectus relating to this offering may be
obtained 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, Nevada 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 intended use of proceeds from the
offering. 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 final 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
Aqua Metals (NASDAQ:AQMS)
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