---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-020442"
form_type: "8-K"
ticker: "AQMS"
cik: "0001621832"
company_name: "Aqua Metals, Inc."
filed_at: "2023-07-21T23:59:59+00:00"
generated_at: "2026-06-13T04:58:34.551582+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Aqua Metals raises $5M from Yulho in direct offering; agrees to license AquaRefining tech in South Korea

## Summary
- Sold 4,545,455 shares at $1.10/share to Yulho for gross proceeds of $5M.
- Yulho agrees to 6-month lock-up on the shares from closing.
- Parties will negotiate a definitive license agreement within 90 days for AquaRefining technology in South Korea.
- Proposed license royalty starts at 1% of net sales, increasing to 8%.
- Closing expected on or about August 4, 2023, subject to customary conditions.

## SEC filing metadata
- accession: 0001437749-23-020442
- form_type: 8-K
- ticker: AQMS
- cik: 0001621832
- company_name: Aqua Metals, Inc.
- filed_at: 2023-07-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1621832/000143774923020442/0001437749-23-020442-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1621832/000143774923020442/aqms20230720_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-020442
- JSON: https://secwatch.observer/filing/0001437749-23-020442.json
- Plain text: https://secwatch.observer/filing/0001437749-23-020442.txt

## Key facts
- Material Agreements
  Aqua Metals, Inc. entered into Yulho Securities Purchase Agreement with Yulho Co, Ltd. valued at $5 million (effective 2023-07-18).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Yulho Co, Ltd.
  - Value: $5 million
  - Effective: 2023-07-18
  source text: On July 18, 2023, Aqua Metals, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Yulho SPA”) with Yulho Co, Ltd.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1621832/000143774923020442/0001437749-23-020442-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.