BALLERUP, DENMARK — May 22, 2019 – LiqTech International, Inc. (NASDAQ: LIQT) (“LiqTech”), a clean technology company that manufactures and markets highly specialized filtration technologies, today announced the upsizing and pricing of its previously announced underwritten public offering of 1,931,035 shares of its common stock at a public offering price of $7.25 per share. As part of the offering, LiqTech granted the underwriters a 30-day option to purchase at the public offering price up to an additional 284,827 shares of its common stock to cover over-allotments, if any. All shares of common stock to be sold in the offering were offered by LiqTech. LiqTech expects to close the offering on or about May 24, 2019, subject to the satisfaction of customary closing conditions.
The total gross proceeds from the offering are expected to be approximately $14.0 million, assuming no exercise of the underwriters’ over-allotment option. LiqTech intends to use the net proceeds from this offering (after deducting the underwriting discount and other estimated offering expenses payable by LiqTech) to fund the growth of the business, including adding manufacturing capacity through equipment purchases, funding continued research and development efforts, for general corporate purposes, and the potential insourcing of currently outsourced manufacturing.
Stephens Inc. is acting as lead left book-running manager and Lake Street Capital Markets, LLC is acting as joint book-running manager for the offering.
The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-220496) that was previously filed with the Securities and Exchange Commission (the “SEC”) on September 15, 2017, as amended on October 11, 2017, and that was declared effective on October 23, 2017. A preliminary prospectus supplement and accompanying prospectus related to and describing the terms of the offering were filed with the SEC on May 21, 2019 and may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or by contacting Stephens Inc., Attention: Equity Syndicate Prospectus, 111 Center Street, Little Rock, Arkansas 72201 or by email at email@example.com or Lake Street Capital Markets, LLC, Attention: Syndicate Dept., 920 Second Avenue South, Suite 700, Minneapolis, MN 55402 or by email at firstname.lastname@example.org. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
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 clean technology company that for more than a decade has developed and provided state-of-the-art technologies for gas and liquid purification using ceramic silicon carbide filters, particularly highly specialized filters for the control of soot exhaust particles from diesel engines and for liquid filtration. Using nanotechnology, LiqTech develops products using proprietary silicon carbide technology. LiqTech’s products are based on unique silicon carbide membranes which facilitate new applications and improve existing technologies. LiqTech offers a wide range of filters and membranes for micro- and ultrafiltration, and by incorporating LiqTech’s SiC liquid membrane technology with its long-term systems design experience and capabilities, LiqTech offers solutions to the most difficult water pollution problems.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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 Investor Relations
Lytham Partners, LLC
Phone: (602) 889-9700