American Resources (AREC) said Monday it closed $20 million in debt financing via private capital in the US.
The financing is structured as a $20 million convertible note with the option to adjust the amount "slightly" should the need arise.
The company said 60% of the note had been committed or funded to date.
The company will onboard the debt via its subsidiary ReElement Technologies, which received a pre-money valuation of $150 million.
The funds will support the procurement and commissioning of new commercial-scale equipment, American Resources said.
The company's shares were up over 55% in recent Monday trading.
Price: 0.75, Change: +0.27, Percent Change: +56.76
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。