secwatch.observer — SEC 8-K summary
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Issuer:     Aqua Metals, Inc. (AQMS)
CIK:        0001621832
Form:       8-K
Filed at:   2024-08-05T23:59:59+00:00
Accession:  0001437749-24-024650
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Aqua Metals loses $33M credit facility; cuts workforce; Sierra ARC delayed to 2025
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- Non-binding $33M secured credit facility suspended by lender due to high interest rates and >25% drop in lithium carbonate pricing since term sheet signing.
- Completed reduction in force; expects ~1 year of cash runway with no other cash sources, through cost deferrals and asset sales.
- Sierra ARC timeline shifted from late 2024 to 2025; facility remains at or under budget to date.
- Closed $7.3M net funding round in Q2; pilot facility operating 24x5 for process validation.
- Management actively pursuing alternative financing: debt, project finance, JV, strategic investment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621832/000143774924024650/0001437749-24-024650-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621832/000143774924024650/aqms20240529_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-024650

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