---
schema_version: "secwatch.filing_event.v1"
accession: "0001515156-23-000018"
form_type: "8-K/A"
ticker: "ARQ"
cik: "0001515156"
company_name: "Arq, Inc."
filed_at: "2023-03-02T23:59:59+00:00"
generated_at: "2026-06-18T15:01:17.717564+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ADES files Arq Limited financials for acquisition; Arq reports $115.7M net loss in 2021, going concern doubt

## Summary
- Arq 2021 net loss $115.7M, operating loss $116.0M; 2020 net loss $32.8M.
- Arq had $7.0M cash at Dec 31, 2021, net current liabilities $82.8M; auditor cites substantial doubt about going concern.
- ADES acquired Arq on Feb 1, 2023 in all-stock transaction; pro forma combined financials filed.
- Arq's 2020 financials restated to correct misstatements in property, plant & equipment and reserves.
- Arq's plant operating expenses $96.2M in 2021 (vs $3.8M in 2020) due to $90.1M impairment loss.

## SEC filing metadata
- accession: 0001515156-23-000018
- form_type: 8-K/A
- ticker: ARQ
- cik: 0001515156
- company_name: Arq, Inc.
- filed_at: 2023-03-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1515156/000151515623000018/0001515156-23-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1515156/000151515623000018/ades-20230201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001515156-23-000018
- JSON: https://secwatch.observer/filing/0001515156-23-000018.json
- Plain text: https://secwatch.observer/filing/0001515156-23-000018.txt

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