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CST: 23/05/2019 18:42:32   

Aqua Metals Announces Closing of Common Stock Offering and Exercise in Full of Underwriter’s Overallotment Option

121 Days ago

MCCARRAN, Nev., Jan. 22, 2019 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS), (“Aqua Metals” or the “Company”), which is commercializing its proprietary AquaRefining™ electrochemical lead recycling technology, today announced the closing of its previously announced offering of 5,175,000 shares of common stock at a public offering price of $1.90 per share. This included 675,000 shares sold as a result of the underwriter’s exercise in full of its overallotment option.

Gross proceeds to Aqua Metals from this offering are approximately $10 million before deducting underwriting discounts, commissions and other offering expenses. Aqua Metals intends to use the net proceeds from the offering for working capital, which could include capital expenditures related to addressing operational efficiencies and the expansion of production activities at its initial AquaRefining facility at the Tahoe Regional Industrial Center, McCarran, Nevada, and general corporate purposes.

National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NASDAQ:NHLD), acted as the sole underwriter for the offering. The Liquid Venture Partners group at National Securities Corporation was responsible for sourcing and executing the offering.

A shelf registration statement on Form S-3 relating to the shares of common stock being offered was filed with the Securities and Exchange Commission (the “SEC”) and is effective. Copies of the final prospectus supplement and the accompanying base prospectus relating to this offering may be obtained from: National Securities Corporation, Attention: Christopher Passarelli, 200 Vesey Street, 25th Floor, New York, New York 10281, telephone: (212) 417-8164 or by email at prospectusrequest@nationalsecurities.com; or on the SEC’s website at http://www.sec.gov.

This announcement shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Aqua Metals

Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing lead recycling with its patented AquaRefiningTM technology and has built its first recycling facility in Nevada’s Tahoe Reno Industrial Complex. Unlike smelting, AquaRefining is a room temperature, water-based process that is fundamentally non-polluting.

Safe Harbor

This press release contains forward-looking statements regarding the intended use of proceeds from the offering.    Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially, including those risks disclosed in the section “Risk Factors” included in the definitive  prospectus supplement filed with the SEC on January 17, 2019.  Aqua Metals cautions readers not to place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

Investor Relations
Darrow Associates
Alison Ziegler
T: (201) 220-2678
aziegler@darrowir.com 

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