American Resources Shares Slide on Private Placement Pricing

Dow Jones
2025/10/16

By Katherine Hamilton

 

Shares of American Resources sank after the company priced its private placement.

The stock fell 27% to $4.99 in early afternoon trading on Wednesday. The stock has had a nearly five-fold run-up in the past year, the majority of which has occurred in the past three months.

The services provider for mineral refining companies said it entered into a purchase agreement for about 7.8 million shares of Class A stock for $5.10 a share. The stock closed at a 52-week high of $7.11 on Tuesday.

Proceeds are estimated to be $40 million before deducting fees and other expenses, and the offering is slated to close on or about Oct. 16.

Maxim Group, an investment bank, is the sole placement agent.

 

Write to Katherine Hamilton at katherine.hamilton@wsj.com

 

(END) Dow Jones Newswires

October 15, 2025 13:12 ET (17:12 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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