Business
American Resources Corporation Announces Pricing of $30.1 Million Registered Direct Offering Priced At-The-Market
FISHERS, IN / ACCESSWIRE / June 7, 2021 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially
About this update from American Resources Corporation
[{"type":"text","content":"FISHERS, IN / ACCESSWIRE / June 7, 2021 / American Resources Corporation (NASDAQ:AREC) (\"American Resources\" or the \"Company\"), a next generation and socially responsible supplier of raw materials to the new infrastructure and electrification marketplace, today announced that it entered into a securities purchase agreement with certain institutional investors for the issuance and sale of 8,600,000 shares of its common stock and 4,300,000 warrants to purchase up to 4,300,000 shares of its common stock, priced at the market under Nasdaq rules, for aggregate gross proceeds of approximately $30.1 million in a registered direct offering.Kingswood Capital Markets, division of Benchmark Investments, Inc., acted as exclusive placement agent for the offering.The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $3.50 per share. The warrants will expire 5 years from the date of issuance.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 and warrants will be 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.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., 590 Madison Avenue, 39th Floor, New York, NY 10022, 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 fi...