8-K 1 s115403_8k.htm 8-K









Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934


Date of report (Date of earliest event reported): January 17, 2019





(Exact Name of Registrant as Specified in Its Charter)




Delaware   001-37515   47-1169572
(State or Other Jurisdiction of Incorporation)   (Commission File Number)   (I.R.S. Employer Identification Number)


2500 Peru Drive

McCarran, Nevada 89437

(Address of principal executive offices)


(510) 479-7635
(Registrant’s telephone number, including area code)


(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions.


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14d-2(b)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒




Item 1.01Entry into a Material Definitive Agreement.


On January 17, 2019, Aqua Metals, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with National Securities Corporation (the “Underwriter”), relating to an underwritten public offering of 4,500,000 shares (the “Shares”) of the Company’s common stock, $0.001 par value. All of the Shares are being sold by the Company. The offering price to the public is $1.90 per share, and the Underwriter has agreed to purchase the Shares from the Company pursuant to the Underwriting Agreement at a price of $1.767 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriter a 45-day option to purchase up to an additional 675,000 shares of common stock.


The Underwriting Agreement includes customary representations, warranties and covenants by the Company and customary conditions to closing, obligations of the parties and termination provisions. Additionally, under the terms of the Underwriting Agreement, the Company has agreed to indemnify the Underwriter against certain liabilities, including liabilities under the Securities Act of 1933, as amended, or to contribute to payments the Underwriter may be required to make in respect of these liabilities.


The Company has agreed to issue to the Underwriter at the closing of the offering, a warrant to purchase shares of the Company’s common stock equal to 2% of the Shares sold in the offering, including the over-allotment option to the extent exercised. The warrant will be exercisable at $1.90 per share (100% of the price of the common stock sold in the offering), commencing the later of six months after the closing date of the offering or such time as the Company amends its charter to increase its authorized shares of common stock. The warrant will expire five years after the close of the offering.


The Shares will be issued pursuant to a shelf registration statement that the Company filed with the Securities and Exchange Commission, which became effective on September 26, 2016 (File No. 333-213501). A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. The closing of the offering is expected to take place on or about January 22, 2019, subject to the satisfaction of customary closing conditions.


A copy of the Underwriting Agreement is attached hereto as Exhibit 1.1 and is incorporated herein by reference.  A copy of the form of Underwriter’s warrant is attached hereto as Exhibit 4.1 and is incorporated herein by reference. The foregoing description of the material terms of the Underwriting Agreement and the Underwriter’s warrant does not purport to be complete and is qualified in its entirety by reference to such exhibit.


A copy of the legal opinion and consent of Greenberg Traurig, LLP relating to the Shares is attached hereto as Exhibit 5.1.


Item 8.01Other Events.


The Company issued a press release on January 16, 2019 announcing the launch of the public offering and a press release on January 17, 2019 announcing the pricing of the public offering. The press releases are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.




Item 9.01Financial Statements and Exhibits


(d) Exhibits  Method Filing


The following exhibit is filed with this report:


1.1 Underwriting Agreement dated as of January 17, 2019 between the Company and National Securities Corporation, as underwriter Filed electronically herewith
4.1 Form of Underwriter’s Warrant Filed electronically herewith
5.1 Opinion of Greenberg Traurig, LLP regarding legality of the shares Filed electronically herewith
23.1 Consent of Greenberg Traurig, LLP (included in Exhibit 5.1) Filed electronically herewith
99.1 Press release dated January 16, 2019 regarding the launch of the public offering Filed electronically herewith
99.2 Press release dated January 17, 2019 regarding the pricing of the public offering Filed electronically herewith






Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Dated: January 17, 2019 /s/  Stephen Cotton
  Stephen Cotton,
  President and Chief Executive Officer