OAKLAND, CA – July 30, 2015 – Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), a developer of an electrochemical lead recycling technology, today announced the pricing of its initial public offering of 6,600,000 shares of common stock at a public offering price of $5.00 per share. The Company’s shares are expected to begin trading on the NASDAQ Capital Market on Friday, July 31, 2015 under the trading symbol “AQMS.”
Gross proceeds to Aqua Metals from this offering are $33,000,000 before deducting underwriting discounts, commissions and other offering expenses payable by Aqua Metals. Aqua Metals has granted the underwriters a 45-day option to purchase up to an additional 990,000 shares at the initial public offering price to cover over-allotments, if any. The offering is expected to close on August 5, 2015, subject to customary closing conditions.
National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NASDAQ:NHLD), is acting as the book-running manager and Northland Capital Markets is acting as a co-manager for the offering. The Liquid Venture Partners group at National Securities Corporation was responsible for sourcing and executing the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 30, 2015. Once filed, copies of the final prospectus relating to this offering may be obtained from:
National Securities Corporation
410 Park Ave, 14th Floor
New York, NY 10022
Attn: Kim Addarich
Telephone: (212) 417-8164
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
About Aqua Metals, Inc.
Aqua Metals, Inc. (NASDAQ: AQMS) has developed AquaRefining™, a modular electrochemical process that produces ultra-pure lead from used lead-acid batteries in an efficient and socially responsible manner. Unlike lead smelting (the current method of recycling lead-acid batteries), AquaRefining produces almost no emissions. AquaRefining also consumes significantly less energy and is more cost effective than lead smelting. Aqua Metals has engineering offices in Oakland, California and plans to build multiple commercial AquaRefineries, the first of which will be near Reno, Nevada. For more information, please refer to the final prospectus referred to above.
This press release contains forward-looking statements concerning Aqua Metals, Inc., including statements regarding the prospects for the lead acid battery recycling industry, the future of lead acid battery recycling via traditional smelters, the Company’s development of its commercial lead acid battery recycling facilities and the quality, efficiency and profitability of the Company’s proposed lead acid battery recycling operations. Those forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially. Among those factors are: (1) the fact that Company has not yet commenced revenue producing operations or developed its initial commercial recycling facility, thus subjecting the Company to all of the risks inherent in a pre-revenue start-up; (2) risks related to Aqua Metals’ ability to raise sufficient capital, as and when needed, to develop and operate its recycling facilities; (3) changes in the federal, state and foreign laws regulating the recycling of lead acid batteries; (4) the Company’s ability to protect its proprietary technology, trade secrets and know-how and (5) those other risks disclosed in the section “Risk Factors” included in the final prospectus referred to above. 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.
Dr. Stephen R. Clarke
Chairman and CEO
Aqua Metals, Inc.
1035 22nd Avenue, Unit 16
Oakland, CA 94606
MZ Group | Senior Vice President – MZ North America