US Antimony (NYSE: UAMY) prices $26.25M direct share sale, trims ATM

Rhea-AI Filing Summary

United States Antimony Corporation entered into a Securities Purchase Agreement on October 6, 2025 for a registered direct offering of 3,500,000 shares of common stock at $7.50 per share. This will provide aggregate gross proceeds of approximately $26,250,000, with expected net proceeds of $25,558,750 after placement agent fees, a credit, and other expenses.

A.G.P./Alliance Global Partners acted as exclusive placement agent and will receive a 7% commission on the Offering’s gross proceeds, subject to a credit on the closing date. The Offering is being made under the company’s effective Form S-3 shelf registration statement and is expected to close on or about October 7, 2025, subject to customary conditions.

The company also adjusted its at-the-market (“ATM”) offering program. It reduced the ATM prospectus supplement’s aggregate offering price from $65,000,000 to $39,885,000. After accounting for $9,775,549 of prior ATM sales, the company may offer up to an additional $30,109,451 of common stock under the current ATM limit, while the underlying sales agreement with the agents remains in effect.

Insights

Equity capital markets analyst

US Antimony raises $26.25M via direct offering and trims ATM size.

United States Antimony Corporation is securing new equity capital through a registered direct sale of 3,500,000 common shares at $7.50 per share, for gross proceeds of about $26,250,000. After the 7% placement agent commission and other costs, net proceeds are expected to be $25,558,750. This transaction is made under the company’s existing Form S-3 shelf registration.

A.G.P./Alliance Global Partners acted as exclusive placement agent, with compensation tied directly to the Offering’s gross proceeds. The Offering is expected to close on or about October 7, 2025, subject to customary closing conditions, so actual funding depends on those conditions being satisfied.

The company also revised its at-the-market equity program. The ATM prospectus supplement’s aggregate offering capacity was reduced from $65,000,000 to $39,885,000 effective October 6, 2025. After $9,775,549 of prior ATM sales, the remaining capacity is $30,109,451 in common stock under the current prospectus supplement, while the broader sales agreement with the agents continues unchanged.

8-K Event Classification

3 items: 1.01, 8.01, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported) October 6, 2025

UNITED STATES ANTIMONY CORPORATION

(Exact name of registrant as specified in its charter)

Texas		001-08675		81-0305822
(State or other jurisdiction of incorporation)		(Commission File No.)		(IRS Employer Identification Number)

4438 W. Lovers Lane, Unit 100, Dallas, TX		75209
(Address of principal executive officers)		(Zip Code)

Registrant’s telephone number, including area code: (406) 606-4117

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value		UAMY		NYSE American
Common Stock, $0.01 par value		UAMY		NYSE Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement

On October 6, 2025, United States Antimony Corporation (NYSE: UAMY) (NYSE Texas: UAMY) (“USAC,” “US Antimony,” or the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with the institutional investor signatory thereto (the “Investor”) pursuant to which the Company agreed to sell to the Investor, and the Investor agreed to purchase from the Company, in a registered direct offering, an aggregate of 3,500,000 shares (the “Shares”) of the common stock, par value $0.01 per share, of the Company (“Common Stock”), at a purchase price of $7.50 per Share, for aggregate gross proceeds to the Company of approximately $26,250,000 (the “Offering”).

The Offering is being made pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-284057), which was originally filed with the Securities and Exchange Commission on December 27, 2024 and was declared effective on April 24, 2025.

A.G.P./Alliance Global Partners (the “Placement Agent”) acted as exclusive placement agent in connection with the Offering pursuant to a Placement Agency Agreement between the Company and the Placement Agent dated October 6, 2025 (the “Placement Agency Agreement”). The Placement Agency Agreement provides that the Placement Agent will receive a commission equal to 7% of the aggregate gross proceeds of the Offering minus a credit that will be applied to the Company on the Closing Date. Proceeds to the Company after expenses and the Credit will be equal to $25,558,750. The Offering is expected to close on or about October 7, 2025, subject to satisfaction of customary closing conditions (the “Closing Date”).

A copy of each of the Purchase Agreement and the Placement Agency Agreement is attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and is incorporated herein by reference.

The Company is party to an Amended and Restated Sales Agreement, or “sales agreement,” with the Placement Agent and B. Riley Securities, Inc., together the “Agents.” Pursuant to the sales agreement, from time to time, the Company may offer and sell shares of Common Stock to or through the Agents, acting as sales agent or principal (the “ATM Offering”). The Company filed a prospectus supplement dated September 17, 2025, or the “ATM Prospectus Supplement,” for the offer and sale of shares of Common Stock having an aggregate offering price of up to $65,000,000 in the ATM Offering. Effective as of October 6, 2025, the Company reduced the ATM Prospectus Supplement from $65,000,000 to $39,885,000. As of October 6, 2025, after taking into account $9,775,549 of shares of Common Stock that the Company has sold under the ATM Prospectus Supplement, the Company may offer up to an additional $30,109,451 of shares of Common Stock (the “Current Limit”) under the ATM Prospectus Supplement. The Company will not make any sales of Common Stock exceeding the Current Limit under the ATM Prospectus Supplement unless and until a new prospectus supplement or a new registration statement is filed. The sales agreement remains in full force and effect.

Item 8.01 Other Events.

The information set forth in Item 1.01 above regarding the reduction of the ATM Prospectus Supplement is incorporated by reference herein in response to this Item.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
5.1		Opinion of Duane Morris LLP dated October 6, 2025
10.1		Securities Purchase Agreement dated as of October 6, 2025 between United States Antimony Corporation and the purchasers signatory thereto
10.2		Placement Agency Agreement dated as of October 6, 2025 between United States Antimony Corporation and A.G.P/Alliance Global Partners

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	UNITED STATES ANTIMONY CORPORATION
Dated: October 6, 2025	By:	/s/ Richard R. Isaak
		Richard R. Isaak
		SVP, Chief Financial Officer

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FAQ

What equity offering did United States Antimony (UAMY) announce in this 8-K?

United States Antimony Corporation announced a registered direct offering in which it agreed to sell 3,500,000 shares of its common stock at $7.50 per share to an institutional investor under a Securities Purchase Agreement.

How much cash will United States Antimony receive from the direct offering?

The company expects aggregate gross proceeds of approximately $26,250,000 from the offering and net proceeds of $25,558,750 after the placement agent commission, a credit, and other expenses.

Who acted as placement agent for the United States Antimony offering and what is their fee?

A.G.P./Alliance Global Partners acted as the exclusive placement agent and will receive a commission equal to 7% of the aggregate gross proceeds of the offering, subject to a credit applied on the closing date.

When is the United States Antimony direct offering expected to close?

The offering is expected to close on or about October 7, 2025, subject to the satisfaction of customary closing conditions specified in the agreements.

How did United States Antimony (UAMY) change its at-the-market (ATM) program?

The company reduced the ATM prospectus supplement’s aggregate offering price from $65,000,000 to $39,885,000 effective October 6, 2025, while keeping the underlying sales agreement in full force and effect.

What is the remaining capacity under United States Antimony’s ATM offering?

After accounting for $9,775,549 of common stock sold under the ATM prospectus supplement, the company may offer up to an additional $30,109,451 of common stock under the current ATM limit.

Under which registration statement is United States Antimony conducting the direct offering?

The direct offering is being made pursuant to United States Antimony’s effective shelf registration statement on Form S-3, File No. 333-284057, which was declared effective on April 24, 2025.