On May 15, 2025, Aqua Metals, Inc. entered into an agreement with Lincoln Park Capital Fund, LLC to sell up to $10.0 million of its common stock. Under the terms of the agreement, Aqua Metals can sell up to 20,000 shares of its common stock to Lincoln Park on any selected business day, provided the closing sale price per share is above a set floor price. The total sales cannot exceed 19.99% of the outstanding shares unless certain conditions are met. The transaction spans a 24-month period, and the purchase price per share is determined as per the agreement at the time of sale.
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