Aqua Metals Inc (NASDAQ:AQMS) announced plans for a reverse stock split at a ratio of 1-for-20.
The reverse stock split will reduce Aqua Metals’ outstanding shares from approximately 137.6 million to around 6.9 million.
Under the terms of the reverse split, every 20 shares of common stock will automatically convert into one share, maintaining the par value per share.
Aqua Metals’ common stock will continue to be traded on the Nasdaq Capital Market under the symbol ‘AQMS,’ and will begin trading on a split-adjusted basis when the market opens on November 5.
Aqua Metals is developing metals recycling solutions using its patented AquaRefining technology, which targets materials essential for energy storage and electric vehicle manufacturing.
The company is headquartered in Reno, Nevada, and operates the first sustainable lithium battery recycling facility at its Innovation Center in the Tahoe-Reno Industrial Center.