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American Resources Corporation Announces Closing of $13.0 Million Registered Direct Offering Priced Above the Market under Nasdaq Rules
FISHERS, IN / ACCESSWIRE / October 9, 2020 / American Resources Corporation, (NASDAQ:AREC) (the "Company"), a supplier of raw materials to the rapidly growing
About this update from American Resources Corporation
[{"type":"text","content":"FISHERS, IN / ACCESSWIRE / October 9, 2020 / American Resources Corporation, (NASDAQ:AREC) (the \"Company\"), a supplier of raw materials to the rapidly growing global infrastructure marketplace, today announced that it has closed its previously announced registered direct offering of 5,200,000 shares of its common stock at a price of $2.50 per share, priced above the market under Nasdaq rules for aggregate gross proceeds of approximately $13.0 million.Kingswood Capital Markets, division of Benchmark Investments, Inc., acted as exclusive placement agent for the offering.The offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-230786) previously filed and declared effective by the Securities and Exchange Commission (the \"SEC\") and declared effective on June 4, 2019. The offering of the shares of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, describing the terms of the offering, which was filed with the SEC. The Company also filed a Form 8-K in connection with the securities purchase agreement and the closing of the offering.This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.When available, copies of the prospectus supplement relating to this registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Kingswood Capital Markets, division of Benchmark Investments Inc., 17 Battery Place, New York, NY 10004, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 404-7002. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.About American Resources CorporationAmerican Resources Corporation is a supplier of high-qual...