Arq prices $25M public offering of 4.77M shares at $5.25; terminates Red River construction contract

Arq, Inc.

Priced underwritten offering of 4,770,000 shares at $5.25/share; gross proceeds ~$25M.
Net proceeds ~$23.1M ($26.6M if underwriters exercise 715,500-share option); use for capex, working capital, debt.
Terminated construction contract with Wieland-Davco for Red River GAC facility; will manage construction internally.
CEO Robert Rasmus expected to participate in offering; board granted exemption under Tax Asset Protection Plan.
Offering expected to close September 23, 2024; Canaccord Genuity and Roth Capital Partners are joint bookrunners.

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