Aqua Metals, Inc. - AQMS STOCK NEWS

Aqua Metals (NASDAQ: AQMS) reported Q3 2024 results and operational updates, highlighting its progress in sustainable lithium battery recycling. The company's pilot facility has demonstrated 24-hour operational capacity, producing high-purity battery-grade lithium carbonate at over 99.5% purity. The Sierra AquaRefining Campus (ARC) is being prepared for commissioning, with plans for a two-phase buildout targeting 3,000 tonnes initial capacity, expandable to 10,000 tonnes of black mass processing annually. The company is currently evaluating term sheets for long-term financing and advancing commercial partnerships, with facility commissioning expected within 6-9 months after securing funding.

Aqua Metals (NASDAQ: AQMS), a sustainable lithium-ion battery recycling company, will release its third quarter 2024 financial results after market close on November 14, 2024. The company will host a conference call at 4:30 p.m. ET the same day to discuss results and provide a business update. Investors can join via webcast or dial-in, with replay options available through both methods.

Aqua Metals (NASDAQ: AQMS) has announced a 1-for-20 reverse stock split effective November 5, 2024. The company's common stock will continue trading on Nasdaq under 'AQMS'. The split will reduce outstanding shares from approximately 137.6 million to 6.9 million. Stockholders approved this action on October 28, 2024, granting the Board authority for a split ratio between 1-for-2 and 1-for-20. No fractional shares will be issued; affected stockholders will receive cash compensation. Proportional adjustments will be made to equity awards and warrants.

Aqua Metals (NASDAQ: AQMS), a sustainable lithium battery recycling company, provided an update on its Sierra ARC facility and financing efforts. The company has made progress on the facility's development but faces challenges in securing additional financing due to high interest rates and declining lithium mineral prices. Key points include:

1. Sierra ARC development progressed with utility upgrades and equipment installations.
2. A previously announced $33 million credit facility is currently suspended.
3. The company is pursuing alternative financing options.
4. A reduction in workforce has been implemented to preserve cash.
5. The Sierra ARC timeline has shifted to 2025 for commissioning.
6. The company raised $7.3 million in a recent funding round.
7. Pilot facility operations continue to showcase the AquaRefining™ technology.

Aqua Metals, Inc. (NASDAQ: AQMS), a pioneer in sustainable lithium-ion battery recycling, has announced it will report its second quarter 2024 financial results on August 5, 2024, after market close. The company will also provide a business update and host an investor conference call at 4:30 p.m. ET on the same day.

Investors can access the live conference call through the company's website or by dialing in. A replay of the call will be available afterwards. This announcement indicates that Aqua Metals is preparing to disclose its financial performance and provide insights into its business operations for the quarter ended June 30, 2024.

Aqua Metals has closed an $8.05 million public offering of 20,125,000 shares of common stock and an equal number of non-redeemable warrants, including 2,625,000 shares and warrants from the underwriter's over-allotment option. Each share was priced at $0.39 and each warrant at $0.01. The company plans to use the proceeds for working capital and general corporate purposes, and to support a proposed $33 million secured credit facility. The Benchmark Company acted as the sole book-running manager for the offering. The securities were registered with the SEC, and the final prospectus is available on the SEC's website.

Aqua Metals has made significant strides in its circular supply chain strategy, bolstered by a $40M capital infusion. The company reported its first-quarter 2024 results, highlighting a $7M equity raise and a $33M non-binding loan term sheet with a major private company. This funding will complete Phase One of the Sierra ARC buildout in 2024.

Key developments include a strategic partnership with 6K Energy, an economic incentive package worth $2.2M, and a $371,000 DOE grant. Despite these achievements, Aqua Metals had no significant revenue in Q1 2024, with operating expenses up by 107% to $2.2M. The company posted an operating loss of $5.8M, compared to $4.5M in Q1 2023. General and administrative costs remained steady, and the net loss per share was $(0.05), slightly better than $(0.06) in Q1 2023. The company had $8.3M in cash as of March 31, 2024.

Aqua Metals (NASDAQ: AQMS) announced a non-binding term sheet for a $33 million secured credit facility with one of the world's largest privately held companies. The funding is aimed at completing Phase One of the Sierra ARC, a commercial lithium-ion battery recycling facility expected to be commissioned in 2024. Additionally, Aqua Metals announced a $7 million equity raise to support ongoing operations, expected to close on May 17, 2024. The term sheet's closing is targeted for June 30, 2024, pending due diligence and definitive agreements. This financing will help Aqua Metals advance its groundbreaking AquaRefining technology, which reduces waste and greenhouse gas emissions, contributing to a sustainable future.

Aqua Metals (Nasdaq: AQMS) announced a $7 million public offering of 17,500,000 shares of common stock and an equal number of non-redeemable warrants, priced at $0.39 and $0.01 per share and warrant, respectively. The offering, expected to close on May 17, 2024, includes a 30-day option for underwriters to purchase an additional 2,625,000 shares and warrants. The proceeds will support working capital, general corporate purposes, and a proposed $33 million secured credit facility to fund Phase One development of the Sierra AquaRefining Campus. The Benchmark Company, is managing the offering, with PADNOS participating strategically to bolster Aqua Metals' innovation in sustainable battery recycling.