secwatch.observer — SEC 8-K summary
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Issuer:     Arq, Inc. (ARQ)
CIK:        0001515156
Form:       8-K/A
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001515156-23-000018
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1515156/000151515623000018/0001515156-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1515156/000151515623000018/ades-20230201.htm
  HTML page:      https://secwatch.observer/filing/0001515156-23-000018

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer