Aqua Metals prices $7M public offering of 17.5M shares and warrants at $0.39/share; also discloses $33M term sheet

Aqua Metals, Inc.

Issued 17.5M common shares at $0.39 and 17.5M warrants at $0.01, gross proceeds $7M.
Offering includes 30-day over-allotment option for up to 2.625M additional shares and warrants.
Proceeds for working capital and to support $33M non-binding term sheet for secured credit facility.
All officers/directors and longtime stockholder PADNOS participated in the offering.
Closing expected May 17, 2024; warrants exercisable at $0.39, expire in 5 years, not listed on Nasdaq.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Aqua Metals, Inc. entered into Underwriting Agreement with The Benchmark Company, LLC (effective 2024-05-14).

Action: entry
Agreement: underwriting
Counterparty: The Benchmark Company, LLC
Effective: 2024-05-14

Exact text from the filing

On May 14, 2024, Aqua Metals, Inc. (the “Company”) entered into an Underwriting Agreement (the “Agreement”) with The Benchmark Company, LLC, as representative of the several underwriters (the “Underwriter”), relating to an underwritten offering of 17,500,000 shares (“Company Shares”) of its $0.001 par value common stock (“Common Stock”) and non-redeemable warrants (“Warrants”) to purchase up to 17,500,000 shares of Common Stock (“Warrant Shares”).

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Aqua Metals, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-016835

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