Chemicals co Arq slides on stock offering launch

Arq

19/09/2024 21:39

** Shares of specialty chemicals co Arq Inc  ARQ.O  down ~9%
to $5.60 post-market after equity offering news
    ** Greenwood Village, Colorado-based producer of activated
carbon products commences stock offering without disclosing
expected deal size
    ** Canaccord Genuity and Roth Capital jt bookrunners
    ** Co plans to use net offering proceeds for general
purposes, including continued construction of its facilities at
Red River and Corbin located in Coushatta, Louisiana and Corbin,
Kentucky, respectively
    ** Co has ~36.5 mln shares outstanding for ~$225 mln market
value and ~26.89 mln shares of free float, per LSEG
    ** ARQ shares on Thurs closed up 1% at $6.17. Stock ended
2023 at $2.98

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))