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Investing.com -- CleanCore Solutions Inc (NYSE:CCSI) stock plunged 55% after the company announced a significant at-the-market (ATM) offering of up to $1.15 billion in class B common stock.
The Nevada-based corporation disclosed last Thursday that it entered into an amended and restated sales agreement with Maxim Group LLC and Curvature Securities LLC, allowing it to issue and sell shares through the sales agents in transactions deemed "at the market offerings." The arrangement replaces a previous agreement dated June 20, 2025, with Curvature Securities LLC.
Under the terms of the agreement, CleanCore will pay the sales agents a 3.0% commission on the gross sales price of shares sold. The company will also reimburse the agents for reasonable fees and expenses up to $50,000, plus quarterly maintenance expenses not exceeding $5,000 per quarter or $20,000 per fiscal year.
The offering will be conducted through CleanCore’s effective shelf registration statements that were declared effective by the SEC on June 4 and August 29, 2025. Sales may be made on the NYSE American LLC or any other existing trading market for the company’s class B common stock.
CleanCore indicated that proceeds from the offering will be used for working capital and general corporate purposes. The offering will terminate upon either the issuance and sale of all shares or the termination of the sales agreement by either party.
Settlement for sales will occur on the first trading day following any sales, with transactions processed through The Depository Trust Company or other agreed-upon methods.
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