Arq raises ~$15M in PIPE at $7.00/sh, 5.7% dilution from new investor

Arq, Inc.

Issued 2,142,858 shares at $7.00 each, gross proceeds ~$15M via unsolicited institutional offer.
PIPE priced at 3% discount to May 15 close ($7.25); adds 5.7% fully diluted ownership.
CEO says transaction accretive, de-risks Red River investment, lowers cost of capital.
Proceeds for working capital, capex; registration statement for resale to be filed.
Closing expected May 16, 2024; customary conditions apply.

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

Arq, Inc. entered into Purchase Agreement with certain accredited investors valued at approximately $15 million (effective 2024-05-15).

Action: entry
Agreement: equity purchase
Counterparty: certain accredited investors
Value: approximately $15 million
Effective: 2024-05-15

Exact text from the filing

On May 15, 2024, Arq, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain accredited investors named therein (the “Purchasers”) for the private placement (the “Private Placement”) of an aggregate of 2,142,858 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a purchase price of $7.00 per Share.

View on SEC.gov

290 material agreements filed in the last 30 days. Browse all material agreements →

Arq, Inc. filing history →

Source: SEC EDGAR

accession 0001515156-24-000097

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.