American Resources unit Electrified Materials closes $9.5 million private placement of convertible preferred shares
AREC•Electrified Materials closes private placement
American Resources’ majority-owned Electrified Materials unit closed a private placement of 378,200 Series A Convertible Preferred shares priced at $25 per share.
Gross proceeds totaled about $9.5 million from the offering, with initial tranche funding on May 22, 2026.
Preferred shares convert into common stock based on $25 divided by the lower of 85% of the listing price or a $125 million valuation formula.
Maxim Group served as sole placement agent for the unregistered offering.
