05:15 PM EDT, 09/19/2024 (MT Newswires) -- Arq (ARQ) said Thursday it started an underwritten public offering of shares.

The company expects to grant underwriters a 30-day option to buy up to an additional 15% shares in the offering.

Net proceeds from the offering will be used for general corporate purposes including working capital, capital expenditures, research and development expenses, commercial costs, debt service costs and repayment, and costs related to the acquisition of new technologies, products, or businesses.

Shares of the company fell 7.6% in recent after-hours activity.

Price: 5.63, Change: -0.54, Percent Change: -8.75