Aqua Metals Prices $17.4M Public Offering Of 15.82M Shares Of Common Stock At A Price Of $1.10/Share
Portfolio Pulse from Benzinga Newsdesk
Aqua Metals, Inc. (NASDAQ:AQMS) has priced its underwritten public offering of 15.82 million shares of its common stock at $1.10 per share, expecting to raise $17.4 million. The company plans to use the proceeds for working capital, including expenditures related to the commencement of the Phase One build-out of its recently acquired five-acre recycling campus at the Tahoe Reno Industrial Center in McCarran, Nevada.
July 19, 2023 | 12:21 pm
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Aqua Metals' public offering could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price. However, the funds raised will be used for working capital and expansion, which could have positive long-term effects.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a short-term decrease in stock price. However, the funds raised from the offering will be used for working capital and the commencement of the Phase One build-out of its recently acquired recycling campus, which could potentially lead to growth and profitability in the long term.
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