Every 8-K that Aqua Metals, Inc. (AQMS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow AQMS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AQMS filings page.
Aqua Metals, Inc. (AQMS) reports an administrative change to its existing at-the-market equity program. On August 30, 2024, Aqua Metals entered into an ATM Sales Agreement with The Benchmark Company, LLC, which was amended on December 2, 2025. On September 2, 2026, Benchmark notified Aqua Metals that it had assigned its rights and obligations under the Sales Agreement to its affiliate, StoneX Financial Inc., an SEC-registered broker-dealer and FINRA/SIPC member. The agreement permits Benchmark to assign its rights and obligations to an affiliate pursuant to Section 13 of the Sales Agreement without Aqua Metals’ consent.
Aqua Metals, Inc. (AQMS) held its annual meeting of stockholders on August 18, 2026. Stockholders elected four directors—Stephen Cotton, Vincent L. DiVito, Eric J. Gangloff, and Steven K. Henderson—with each receiving over 529,000 shares voted for and 1,046,551 broker non-votes recorded in the director elections.
Stockholders approved an amendment to the 2019 Stock Incentive Plan to increase the number of shares of common stock reserved under the plan by 750,000 shares, and they ratified the appointment of Forvis Mazars, LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026. In addition, stockholders approved, on an advisory basis, the compensation of the company’s named executive officers as disclosed in the 2026 Proxy Statement.
Aqua Metals, Inc. reported second quarter 2026 results and highlighted progress on its phased Headwaters ARC commercialization plan for LFP battery recycling. For the quarter ended June 30, 2026, the company recorded a net loss of $4,480 thousand, or $(1.31) per share, compared with a net loss of $6,770 thousand in the second quarter of 2025.
As of June 30, 2026, cash and cash equivalents were $4,744 thousand, with total assets of $12,622 thousand and stockholders’ equity of $9,530 thousand. The CEO noted that the company has entered the current commercialization phase debt-free and intends to align capital deployment with commercial milestones.
The Headwaters ARC plan is described as a staged model. Phase 1 focuses on mechanically processing LFP battery materials to produce copper and aluminum fines and high-specification black mass, building feedstock and offtake relationships. Phase 2 is expected to integrate AquaRefining™ to upcycle black mass into battery-grade lithium carbonate, iron phosphate and graphite. Aqua Metals is advancing diligence on a Midwest site of approximately 150,000 square feet on more than 50 acres, has logged over 5,000 operating hours at its demonstration plant, and was selected as an industrial partner on a DOE-funded program, while maintaining multiple commercial partnerships and memoranda of understanding.
Aqua Metals reported its first quarter 2026 results and strategic progress, highlighting narrower losses and continued commercialization efforts for its AquaRefining™ battery materials platform. The company is advancing toward its first commercial lithium battery recycling facility, working through U.S. site selection, detailed engineering, and partner engagement.
For the quarter ended March 31, 2026, Aqua Metals posted a net loss of $3.95 million, compared with a net loss of $8.32 million a year earlier, as total operating expense declined to $4.14 million from $8.68 million. Cash and cash equivalents were $6.82 million and total assets were $17.12 million as of March 31, 2026.
The company decided not to proceed with its previously outlined acquisition of Lion Energy under the February 11, 2026 non-binding term sheet, citing misalignment with its capital structure and shareholder value objectives. It continues to evaluate alternative, more capital-efficient ways to integrate selected energy storage assets while pursuing multiple commercial partnerships and technical validation at its Innovation Center.
Aqua Metals, Inc. reported its results for the year ended December 31, 2025, highlighting technology and commercialization milestones for its AquaRefining™ process alongside continued losses. The company recorded a net loss of $22,646 for 2025, compared with a net loss of $24,555 for 2024, and total operating expense of $23,331 versus $23,847 a year earlier.
At year-end 2025, Aqua Metals reported cash and cash equivalents of $10,810, up from $4,079 at December 31, 2024, while total assets declined to $19,706 from $26,365. Total liabilities fell to $4,936 from $10,121, and stockholders’ equity was $14,770 compared with $16,244. Results included a $9,114 impairment and loss on disposal of property, plant and equipment, partly offset by a $1,266 gain from change in fair value of warrant liability.
Aqua Metals has signed a detailed, but non-binding, term sheet to acquire Lion Energy, a U.S. energy storage and software company, in a transaction with aggregate consideration capped at $94.9 million.
Closing consideration would include recognition of $4.1 million previously invested in Lion Energy and $25.8 million of Aqua Metals equity, with additional earn-out equity of up to $65 million tied to Lion Energy achieving more than $55 million of revenue and EBITDA margin goals over 12 consecutive months after closing. A new non-voting Series X Preferred Stock class is contemplated to cap common ownership at 45% overall and 40% for Lion’s majority owner, with automatic conversion into common stock after three years and anti-dilution features.
Conditions include a satisfactory fairness opinion, clean diligence, a new $25 million asset-based credit facility, key offtake and supply agreements, exchange listing approval, and shareholder approvals. Separately, Aqua Metals funded a subordinated, last-out $4.1 million participation in Lion’s existing senior credit facility, fully secured by Lion’s assets but junior to all senior obligations. The companies currently target closing in the second quarter of 2026, with no assurance the deal will be completed.
Aqua Metals, Inc. filed a Form 8-K to report that on November 12, 2025 it issued a press release announcing its operational and financial results for the third quarter of 2025. The company is furnishing this press release as Exhibit 99.1, meaning it is provided for information rather than being treated as formally filed.
The report is signed on behalf of Aqua Metals by its Chief Financial Officer, Eric West, confirming management’s responsibility for the disclosure.
Aqua Metals, Inc. entered into a financing that combines a registered direct offering and a concurrent private placement of warrants. The company agreed to sell 205,213 common shares at $11.34 per share and 928,581 pre-funded warrants at $11.339, and concurrently issue common stock purchase warrants exercisable for up to 1,133,794 shares at an $11.34 exercise price.
The company reported gross proceeds of approximately $13 million from the Offering, before expenses. The pre-funded warrants are immediately exercisable at $0.001 per share, while the private placement warrants are exercisable upon issuance, carry a five-year term, and may allow cashless exercise in certain cases. Both warrant types include ownership limits of 4.99% or 9.99% at the holder’s election. The Offering is expected to close on October 16, 2025, subject to customary conditions.
The Benchmark Company served as placement agent and received a 7% cash fee. The securities were issued off the company’s effective Form S-3 shelf, and net proceeds are intended for working capital and general corporate purposes.
Aqua Metals, Inc. (AQMS) reported that after a 1-for-10 reverse stock split effected on August 4, 2025 and an appeal hearing on August 19, 2025, Nasdaq confirmed the company has regained compliance with the minimum bid price requirement of $1.00 under Listing Rule 5550(a)(2). Nasdaq's letter dated September 4, 2025 restores the listing status that had been at risk following a prior notice of noncompliance.
The company will be placed under a mandatory panel monitor for one year ending September 4, 2026. If Nasdaq staff later finds the company again out of compliance with the minimum bid during that period, the company would not be eligible for a grace period and could face delisting unless it appeals to the Nasdaq Hearing Panel.
Aqua Metals reported its operating and financial results for the second quarter of 2025 via a press release attached to a Form 8-K. The filing states the press release is furnished (not filed) and is included as Exhibit 99.1. The cover page interactive XBRL file is included as Exhibit 104. This Form 8-K not itself disclose numerical results in the body of the filing; instead it notifies investors that detailed operational and financial information has been released in the attached press release.
The report was executed on behalf of the company by Chief Financial Officer Eric West. Investors seeking the full figures, commentary, and any explanatory disclosures should consult Exhibit 99.1 for the complete press release and Exhibit 104 for the interactive data file.