10:18 AM EDT, 09/20/2024 (MT Newswires) -- Arq's (ARQ) shares were down 14% in recent Friday trading after the company said it priced an underwritten public offering of nearly 4.8 million shares at $5.25 per share for expected gross proceeds of about $25 million.

The company granted the underwriters a 30-day option to buy up to an additional 715,500 shares.

The offering is expected to close on or about Monday.

Arq plans to use the net proceeds from the offering for general corporate purposes, including facility construction, research and development, debt repayment, acquisitions, and investments.

Price: 5.31, Change: -0.87, Percent Change: -14.02