OPAL Fuels enters $75M at-the-market equity offering agreement with B. Riley, Cantor, Stifel

OPAL Fuels Inc.

Up to $75M aggregate offering of Class A common stock, issuable from time to time at market prices.
Agents B. Riley, Cantor Fitzgerald & Stifel earn 3.0% of gross proceeds per sale.
Company not obligated to sell; sales subject to price, size, timing limits set by company.
Agreement effective November 17, 2023; can be terminated by either party on two days' notice.
Shares sold through 'at the market' method under Rule 415; existing S-3 effective on September 6, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

OPAL Fuels Inc. entered into At Market Issuance Sales Agreement with B. Riley Securities, Inc., Cantor Fitzgerald & Co. and Stifel, Nicolaus & Company, Incorporated valued at up to $75 million of Class A common stock (effective 2023-11-17).

Action: entry
Agreement: atm program
Counterparty: B. Riley Securities, Inc., Cantor Fitzgerald & Co. and Stifel, Nicolaus & Company, Incorporated
Value: up to $75 million of Class A common stock
Effective: 2023-11-17

Exact text from the filing

On November 17, 2023, OPAL Fuels Inc. (the “Company”) entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc., Cantor Fitzgerald & Co. and Stifel, Nicolaus & Company, Incorporated (each, an “Agent,” and collectively, the “Agents”) pursuant to which the Company may issue and sell shares of its Class A common stock having an aggregate offering price of up to $75 million from time to time through the Agents.

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Source: SEC EDGAR

accession 0001842279-23-000097

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