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RENO - Aqua Metals, Inc. (NASDAQ:AQMS), whose stock has declined over 92% in the past year and currently trades near its 52-week low of $0.44, announced Thursday it will implement a 1-for-10 reverse stock split effective August 4, 2025, in an effort to regain compliance with Nasdaq listing requirements. According to InvestingPro data, the company’s market capitalization has shrunk to just $4.34 million.
The lithium battery recycling company’s shares will continue trading on the Nasdaq Capital Market under the symbol AQMS but will begin trading on a split-adjusted basis when markets open on August 4.
The reverse split will reduce Aqua Metals’ outstanding common shares from approximately 13.9 million to 1.4 million shares. The company’s stockholders approved the measure at a special meeting on July 22, granting the board discretion to implement a split at a ratio between 1-for-2 and 1-for-10.
No fractional shares will be issued. Stockholders entitled to fractional shares will receive cash in lieu, based on the average closing price for the five trading days preceding the effective date.
The action comes after Aqua Metals received a Nasdaq notification on July 2 that it had fallen below the minimum $1.00 per share requirement under Rule 5550(a)(2). The company has filed an appeal with the Nasdaq Hearing Panel and believes the reverse split will help it successfully challenge the proposed delisting.
Proportional adjustments will be made to the company’s equity awards and warrants. Stockholders holding shares through brokerage accounts will have their shares automatically adjusted to reflect the split.
According to the company’s press release statement, stockholders holding certificated shares are not required to exchange their existing stock certificates, though they may do so if they wish. With earnings scheduled for August 5, investors can access comprehensive analysis and Fair Value estimates through InvestingPro’s detailed research reports, which provide crucial insights for navigating this challenging period.
In other recent news, Aqua Metals Inc. has reported a net loss of $8.3 million for the first quarter of 2025, amounting to a loss of $0.03 per share. Despite the financial loss, the company highlighted significant operational cost reductions and strategic shifts during its earnings call. Additionally, Aqua Metals received a notice from the Nasdaq Stock Market for non-compliance with the minimum bid price requirement, as its stock price remained below $1.00 per share for 30 consecutive trading days. The company is at risk of delisting unless it appeals to the Nasdaq Hearing Panel by July 9. In a positive development, Aqua Metals announced that the United States Patent and Trademark Office has granted a Notice of Allowance for a patent application related to its lithium battery recycling technology. This patent covers key aspects of the AquaRefining™ process, emphasizing an environmentally friendly approach to recycling. The technology allows for the recovery of high-purity lithium carbonate and other valuable materials, offering cost savings compared to traditional methods. Meanwhile, Judd B. Merrill, formerly CFO of Aqua Metals, has been appointed as the new Chief Financial Officer and President of Comstock Mining LLC, a subsidiary of Comstock Inc.
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