Arq Announces $15M Private Investment in Public Equity (PIPE) Transaction at $7.00/Share
Portfolio Pulse from Benzinga Newsdesk
Arq, Inc. (NASDAQ:ARQ) announced a $15 million Private Investment in Public Equity (PIPE) transaction at $7.00 per share, resulting in the issuance of 2,142,858 new common equity shares and a 5.7% ownership stake for the new investor.
May 16, 2024 | 11:48 am
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Arq, Inc. announced a $15 million PIPE transaction at $7.00 per share, issuing 2,142,858 new shares and giving the investor a 5.7% ownership stake.
The $15 million PIPE transaction provides Arq with additional capital, which can be used for growth and operational needs. The issuance of new shares at $7.00 each indicates investor confidence in the company's valuation. The 5.7% ownership stake by the new investor could also bring strategic benefits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100