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Aemetis, Inc., an industrial organic chemicals manufacturer, has amended its sales agreement with H.C. Wainwright & Co., LLC, potentially offering up to $210 million in common stock. This development was officially reported on Monday in a recent SEC filing.
The Cupertino-based company, which operates under the NASDAQ ticker AMTX, previously entered into an At Market Issuance Sales Agreement on January 26, 2021. The agreement, which was first amended on August 18, 2021, has now been further modified to facilitate the sale of common stock through the brokerage firm. InvestingPro analysis reveals that Aemetis operates with a significant debt burden of $451 million and a concerning current ratio of 0.26, indicating potential liquidity challenges. For deeper insights into Aemetis’s financial health and 10+ additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
According to the amended terms, Aemetis may intermittently sell common stock on the NASDAQ Global Market, either in ordinary transactions, block trades, or as mutually agreed with the Distribution Agent. The sales will be conducted at prevailing market prices, with the stock currently trading at $2 per share. For each sale, Aemetis has agreed to pay H.C. Wainwright a cash commission of up to 3% of the gross proceeds.
The Placement Shares are being offered under Aemetis’s Registration Statement on Form S-3, initially filed on August 9, 2024, and subsequently amended on February 4, 2025. The SEC declared the registration effective on February 11, 2025. Additionally, a prospectus supplement related to the Placement Shares was filed on the same day the agreement was amended.
This SEC filing and the associated legal opinion by Allen Overy Shearman Sterling US LLP do not constitute an offer to sell the securities. The offering is subject to state securities laws, where the securities must be registered or qualify for an exemption.
The information is based on a press release statement and the company’s SEC filing, which provides a detailed account of the agreement and its amendments. Aemetis’s decision to amend the sales agreement reflects its ongoing efforts to manage its capital and potentially expand its financial flexibility.
In other recent news, Aemetis, Inc. has announced several significant developments. The company has secured $11 million from the sale of renewable energy tax credits, a result of investments in solar and biogas projects. These credits are part of the Inflation Reduction Act and support Aemetis’s renewable energy initiatives, including a solar project and biogas digesters. Additionally, Aemetis’s ethanol and RNG facilities have received IRS approval for Excise Tax Registration, enabling the company to claim Section 45Z Production Tax Credits for producing low-carbon fuels. This approval aligns with Aemetis’s strategy to increase its renewable natural gas production, expecting an 80% rise in output by 2025. Furthermore, Aemetis executives have received substantial salary increases and bonuses, reflecting the company’s commitment to aligning executive compensation with strategic goals. Eric McAfee, the Chairman and CEO, highlighted the role of these tax credits in fostering domestic production of renewable fuels. The company also anticipates generating over $500 million in tax credits to support various projects, including carbon intensity reduction and CO2 sequestration. These developments underscore Aemetis’s ongoing efforts to expand its renewable energy footprint and reduce greenhouse gas emissions.
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