BALLERUP, Denmark, Sept. 30,
2024 /PRNewswire/ -- LiqTech International,
Inc. (NASDAQ: LIQT), a high-tech filtration technology
company that manufactures and markets highly specialized filtration
products and systems, today announced that it has entered into a
definitive securities purchase agreement with existing
institutional investors (the "Private Placement").
The Private Placement will consist of an aggregate of 3,630,129
shares of common stock, 1,369,871 pre-funded warrants to purchase
shares of common stock, and warrants to purchase up to an aggregate
of 5,000,000 shares of common stock. The combined purchase price of
one share of common stock and one accompanying warrant to purchase
one share of common stock is $2.00.
The combined purchase price of one pre-funded warrant and one
accompanying warrant to purchase one share of common stock is
$1.999. The warrants will have an
exercise price of $2.00 per share and
a term of 5 years.
The Private Placement is expected to close in two tranches. The
first tranche will consist of 29,277 shares, 555,302 pre-funded
warrants, and 584,529 warrants, an amount in the aggregate equal to
19.99% of shares outstanding immediately prior to the entry into
the Private Placement (the "Exchange Cap"). The second tranche will
consist of 3,600,902 shares, 814,569 pre-funded warrants, and
4,415,471 warrants, and will close after shareholder approval is
obtained on the issuance of the shares. Following the closing of
both tranches, the transaction will result in initial aggregate
gross proceeds of $10 million to the
Company.
LiqTech intends to use the proceeds from the Private Placement
to fund the Company's ongoing commercial development in the U.S.
oil & gas sector, expansion of its commercial efforts in the
European and U.S. swimming pool sector, and development of a new
initiative to enter the marine exhaust gas recirculation (EGR)
water treatment segment, each of which are critical components to
the Company's growth strategy and path to profitability.
"We would like to thank our existing institutional investors for
their consistent support and strong conviction with respect to our
company, our management team, and our future opportunities,"
commented Fei Chen, CEO of LiqTech.
"We look forward to the continued execution of our strategic plan
aimed at leveraging the unique capabilities of LiqTech's high-tech
filtration technology in large, growing end markets in the
future."
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
ABOUT LIQTECH INTERNATIONAL, INC.
LiqTech International, Inc., a Nevada corporation, is a high-tech filtration
technology company that provides state-of-the-art ceramic silicon
carbide filtration technologies for gas and liquid purification.
LiqTech's silicon carbide membranes are designed to be used in the
most challenging purification applications, and its silicon carbide
filters are used to control diesel exhaust soot emissions. Using
nanotechnology, LiqTech develops products using its proprietary
silicon carbide technology, resulting in a wide range of component
membranes, membrane systems, and filters for both microfiltration
and ultrafiltration applications. By incorporating LiqTech's SiC
liquid membrane technology with the Company´s extensive systems
design experience and capabilities, LiqTech offers unique, modular
designed filtration solutions for the most difficult water
purification applications.
For more information, please visit: www.liqtech.com
Follow LiqTech on Linkedln:
http://www.linkedin.com/company/liqtech-international
Follow LiqTech on Twitter: https://twitter.com/LiqTech
Forward-Looking Statements
This press release
contains "forward-looking statements." Although the forward-looking
statements in this release reflect the good faith judgment of
management, forward-looking statements are inherently subject to
known and unknown risks and uncertainties that may cause actual
results to be materially different from those discussed in these
forward-looking statements. Readers are urged to carefully review
and consider the various disclosures made by us in the reports
filed with the Securities and Exchange Commission, including the
risk factors that attempt to advise interested parties of the risks
that may affect our business, financial condition, results of
operation, and cash flows. If one or more of these risks or
uncertainties materialize, or if the underlying assumptions prove
incorrect, our actual results may vary materially from those
expected or projected. Readers are urged not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this release. We assume no obligation to update any
forward-looking statements in order to reflect any event or
circumstance that may arise after the date of this release.
LiqTech Company Contact
Phillip Massie Price, Interim Chief
Financial Officer
LiqTech International,
Inc.
Phone: +45 31313993
pmp@liqtech.com
LiqTech Investor Contact
Robert Blum
Lytham Partners, LLC
Phone: 602-889-9700
liqt@lythampartners.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/liqtech-international-inc-announces-private-placement-transaction-of-up-to-10-million-with-existing-institutional-investors-302262009.html
SOURCE LiqTech International, Inc.