Aqua Metals is selling 15,820,000 shares of AQMS stock at a price of $1.10 per share. The company expects gross proceeds from the offering of $17,402,000. It will use these funds for working capital, which includes the buildout of its recycling campus at the Tahoe Reno Industrial Center in McCarran, Nev.
To go along with this, underwriters have a 30-day option to acquire an additional 2,373,000 shares of AQMS stock. The Benchmark Company, LLC is the sole book-running manager of the offering. The Liquid Venture Partners is working alongside The Benchmark Company, LLC to source and execute the offering.
What This Means for AQMS Stock
A public offering means that the company is increasing its total number of outstanding shares. A side effect of that is current shareholders seeing their stakes in the company diluted. That could help explain why the stock is falling today.
Another factor worth noting is the public offering price of $1.10 per share. That’s below the prior closing price of $1.69 per share for AQMS stock. That may also explain why the company’s shares are sliding today.
AQMS stock has also seen some 1.7 million shares change hands as of this writing. That’s already above its daily average trading volume of about 379,000 shares. This also has the company’s stock down 27.8% as of Wednesday morning.
Investors looking for even more of the most recent stock market news today will want to stick around!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.