ADA-ES, Inc. today announced that it has filed a universal shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission (“SEC”). The shelf registration statement, when declared effective by the SEC, would give ADA the ability to offer and sell up to $140,000,000 of its securities consisting of common stock, preferred stock, warrants, units or a combination thereof. After the shelf registration becomes effective, ADA may offer and sell such securities from time to time and through one or more methods of distribution, subject to market conditions, ADA’s capital needs and regulatory requirements. The terms of any offering under the shelf registration statement would be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to completion of the offering.
Dr. Michael Durham, President and CEO of ADA, stated, “We do not have immediate plans to offer or sell our securities under the registration statement. The Board of Directors agreed that having a shelf registration in place was prudent given the significant expansion of markets for our products being created by pending regulations as it provides us greater financial flexibility in the event we identify strategic opportunities that may require additional capital.”
The registration statement relating to the securities described above has been filed with the SEC but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
A copy of the registration statement (including the prospectus contained in the registration statement) may be obtained on the SEC’s website at www.sec.gov. In addition, ADA will file a prospectus supplement with the SEC in connection with any offering made under the shelf registration statement. Information on ADA’s website is not a part of the registration statement, the prospectus or any prospectus supplement which may be issued under the registration statement unless such information is specifically identified as being a part of the registration statement, the prospectus or a prospectus supplement.