AQMS - Aqua Metals Announces Closing of $8.05 Million Public Offering of Common Stock Including Full Exercise of Over-Allotment Option | Benzinga
RENO, Nev., May 17, 2024 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ:AQMS) ("Aqua Metals" or the "Company"), a pioneer in sustainable lithium-ion battery recycling, today announced the closing of its $8.05 million underwritten public offering of 20,125,000 shares of its common stock and non-redeemable warrants to purchase 20,125,000 shares of its common stock, including 2,625,000 shares of common stock and warrants 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 and for each warrant was $0.39 and $0.01, respectively. All of the securities in the underwritten public offering were sold by the Company.
Aqua Metals plans to use the net proceeds from the offering for working capital and for general corporate purposes. The funds are also expected to support a proposed $33 million secured credit facility for which the Company has entered into a non-binding term sheet with one of the world's largest privately held companies.
The Benchmark Company, LLC acted as sole book-running manager for the ...