![]() Marken concluded, “We believe this is the next step in building long-term growth through diversification of potential products and customers which will result in higher margin opportunities within the activated carbon market, as well as enabling access to additional potential revenue streams that our Company, without Arq, would not have been able to access. The combined Company, through the use of two base feedstocks, will be able to pursue end markets served by both Powder and Granular Activated Carbon products and will be the only completely vertically integrated North American activated carbon provider from feedstock to distribution.” Marken added, “The acquisition of Arq marks an important step toward solidifying our future and delivering on our commitment to creating shareholder value. ![]() The lender under the debt facility also obtained penny warrants to purchase 1% of the pro forma equity of the combined company.Īfter giving effect to the PIPE investment and the warrants provided to the lenders, legacy ADES and Arq shareholders owned 59.2% and 28.0% of the Company, respectively while new PIPE investors and the lenders (assuming conversion of the warrants) owned 11.8% and 1.0% of the new Company respectively. ![]() Prior to the impact of new capital, legacy ADES and Arq shareholders owned 67.9% and 32.1% of the combined company, respectively.Ī private placement of approximately $15.4 million of its common stock from certain significant Arq shareholders and members of Arq management at a price of $4.00 per share. Until conversion, the preferred security will accrue dividends at an 8% coupon rate (or if greater, the dividend paid on ADES common shares) that will be payable in cash or in kind, which coupon will increase at set intervals if the conversion is not approved within 635 days of closing. That new preferred shares will automatically convert to common stock upon the approval by ADES’ shareholders. Pursuant to the revised securities purchase agreement, ADES issued a combination of shares of common stock and shares of a newly created series of preferred stock in exchange for all of the equity interests in all of the subsidiaries of Arq Limited (“Arq”). All parties look forward to collaboratively forging the future for ADES and our shareholders.” “As a result, the parties have mutually agreed upon a new deal structure that both parties believe are conducive to long-term value creation and sustainability for the combined company. As a result of changing macroeconomic conditions, the Board and management team of ADES reopened discussions with the leaders of Arq Limited and have revised the terms of the proposed transaction,” said Greg Marken, Chief Executive Officer, President and Treasurer of ADES. “We are pleased to announce the completion of the acquisition of all of the subsidiaries of Arq Limited. (NASDAQ: ADES) (the “Company” or “ADES”), a leader in emissions control solutions for coal-fired power generation, industrial and municipal water purification markets, today closed its previously announced agreement with Arq Limited to combine their respective businesses on updated terms and structure. 01, 2023 (GLOBE NEWSWIRE) - Advanced Emissions Solutions, Inc. The smallcase usually follows a weekly rebalance schedule.Revised transaction structure results in ADES acquiring 100% of the equity interests of Arq Limited subsidiaries in exchange for issuance of preferred sharesįinal ownership terms results in legacy ADES shareholders retaining 59% of the outstanding equity It’s strong risk management system cuts the losses early and allows profits to run longer be big, thereby maximising profits and reducing draw downs/losses ARQ Prime is tested against the most challenging market conditions to deliver the performance driven results.ĪRQ Prime identifies the timing to enter and exit the markets. ARQ scans all types of stocks to pick Winners: Value stocks, Quality stocks, High Momentum stocks, Growth stocks across marketcap.ĪRQ has performed consistently through the midcap fall, NBFC crisis and even during the current COVID-19 Crisis. ![]() ARQ Prime adopts the time-tested and proven rules for investing in stocks. In the world of investing - it is called "Smart Beta". ARQ Prime is a long only equity portfolio.ĪRQ Prime recommends stocks for investment based on a set of rules, free from human intervention or human bias.
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