Arq, Inc. announced the pricing of an underwritten public offering of 4,770,000 shares of its common stock at $5.25 per share. The gross proceeds from this offering are expected to be approximately $25 million, before deducting underwriting discounts and other expenses. The offering is anticipated to close on or about September 23, 2024, subject to customary closing conditions.
The company has also granted the underwriters a 30-day option to purchase up to an additional 715,500 shares of common stock. Arq intends to allocate the net proceeds from this offering towards general corporate purposes.
These purposes may include working capital, capital expenditures for the continued construction of granular activated carbon facilities at its Red River and Corbin manufacturing sites, research and development, commercial expenditures, debt service costs and repayment, and potential acquisitions of new technologies, products, or businesses.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.