Aqua Metals Says It Will Need Additional Financing To Complete Sierra ARC; Lender For Credit Facility Suspends Further Activity; Completes Reduction In Force Of Hired Personal In Expectation Of Securing Required Funding; Shifts timeline From 2024 To 2025
Portfolio Pulse from Benzinga Newsdesk
Aqua Metals announced it will need additional financing to complete its Sierra ARC project. The lender for its credit facility has suspended further activity, and the company has completed a reduction in force in anticipation of securing the required funding. The project timeline has shifted from 2024 to 2025. The reduction in force is not expected to impact current pilot operations or ongoing R&D.
August 05, 2024 | 8:44 pm
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Aqua Metals needs additional financing to complete its Sierra ARC project, with the lender suspending further activity. The project timeline has shifted to 2025, and the company has reduced its workforce.
The need for additional financing and the suspension of activity by the lender are negative signals for Aqua Metals. The shift in project timeline and workforce reduction could lead to investor concerns about the company's financial stability and project execution.
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