Bookrunner National Securities and co-manager Northland Capital assist
By Devika Patel
Knoxville, Tenn., July 30 – Aqua Metals, Inc. said it increased its initial public offering of stock to $33 million with a $4.95 million greenshoe. The deal was announced June 9 and priced for $30 million with a $4.5 million greenshoe on June 25.
The company will now sell 6.6 million common shares at $5.00 per share.
National Securities Corp. is the bookrunning manager.
Settlement is expected Aug. 5.
Proceeds will be used to construct a lead recycling facility near Reno, Nev., for tenant improvements and equipment, patent filings and general working capital.
The lead recycling company is based in Oakland, Calif. The company intends to list its common stock on the Nasdaq stock exchange under the symbol “AQMS.”
| Issuer: | Aqua Metals, Inc.
|
| Issue: | Common stock
|
| Amount: | $33 million
|
| Greenshoe: | $4.95 million, or 990,000 shares
|
| Shares: | 6.6 million
|
| Price: | $5.00
|
| Warrants: | No
|
| Bookrunner: | National Securities Corp.
|
| Co-managers: | Northland Capital Markets
|
| Announcement date: | June 9
|
| Pricing date: | June 25
|
| Upsized: | July 30
|
| Settlement date: | Aug. 5
|
| Stock symbol: | Nasdaq: AQMS
|
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