Sky Quarry Exhausts $12.6M ATM, Raising $13.5M Amid Going Concern
SKYQ has more than doubled off its 52-week low of $1.1 on light trading volume (0.2× avg).
Summary
Sky Quarry exhausted its $12.6 million ATM program, raising $13.5 million by selling 4.4 million shares. The capital provides a lifeline for the distressed company but dilutes existing shareholders significantly.
Key Events · Financing and Capital Events · SKYQ
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ATM Program Fully Exhausted
Sky Quarry sold all shares available under its $12.6 million ATM program, issuing 4,408,137 shares for net proceeds of $13,528,940 — exceeding the cap, implying overallotment or favorable pricing.
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Dilution Impact
The 4.4 million shares sold represent significant dilution for a company with a $20.4 million market cap, though the exact percentage cannot be calculated without knowing the outstanding share count before the sales.
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Financial Lifeline Amid Distress
The $13.5 million in proceeds is critical for Sky Quarry, which reported only $383 in Q1 2026 revenue, has a going concern warning, and faces a $2.2 million foreclosure lawsuit.
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Agent Breakdown
Cantor Fitzgerald sold 52,485 shares for $1.3 million; Muriel Siebert sold 4,355,652 shares for $12.2 million after replacing Cantor as sales agent in April 2026.
Analysis · SKYQ · Energy & Transportation
Sky Quarry fully utilized its at-the-market equity program, selling 4.4 million shares for $13.5 million in net proceeds — exceeding the $12.6 million cap, likely due to price strength or overallotment. This capital is critical for a company with near-zero revenue, a going concern warning, and a pending reverse split vote. The ATM's completion removes a key source of dilution overhang but also signals the company may need alternative financing soon.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 28.9% of the 1668 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SKYQ was trading at $4.30 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $20.4M. The 52-week trading range was $1.10 to $19.45. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.