Arq, Inc. Announces Pricing of $25 Million Public Offering of Common Stock

GREENWOOD VILLAGE, Colo., Sept. 20, 2024 (GLOBE NEWSWIRE) -- Arq, Inc. (NASDAQ:ARQ) ("Arq" or the "Company"), a producer of activated carbon and other environmentally efficient carbon products for use in purification and sustainable materials, today announced the pricing of an underwritten public offering of 4,770,000 shares of its common stock, par value $0.001 per share ("common stock"), at a price to the public of $5.25 per share. All of the shares in the offering are being sold by Arq. The gross proceeds to Arq from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $25 million. The offering is expected to close on or about September 23, 2024, subject to customary closing conditions. In addition, Arq has granted the underwriters a 30-day option to purchase up to an additional 715,500 shares of its common stock in the underwritten public offering. Arq intends to use the net proceeds from this offering for general corporate purposes, which may include working capital, capital expenditures, including continued construction of granular activated carbon facilities at Arq's Red River and Corbin manufacturing facilities located in Coushatta, Louisiana and Corbin, Kentucky, respectively, research and development expenditures, commercial expenditures, debt service costs and repayment, acquisitions of new technologies, products or businesses, and investments. Canaccord Genuity and Roth Capital Partners are acting as joint bookrunners for the offering. A shelf registration statement on Form S-3 (File No. 333-281762) relating to the shares was previously filed with the Securities and Exchange Commission (the "SEC") and became effective on September 4, 2024. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and available on the SEC's website at www.SEC.gov. A copy of the final prospectus supplement and the accompanying ...