Aqua Metals, which is developing an environmentally safe method of recycling used lead batteries, announced terms for its IPO on Thursday.
The Oakland, CA-based company plans to raise $30 million by offering 6 million shares at a price of $5 per share. At that price, Aqua Metals would command a fully diluted market value of $68 million.
Aqua Metals, which was founded in 2014 and has booked no revenue to date, plans to list on the NASDAQ under the symbol AQMS. National Securities is the sole bookrunner on the deal. No pricing date was disclosed.
