Sky Quarry Exhausts $12.6M ATM, Raising $13.5M Amid Going Concern

summarizeSummary

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.

check_boxKey Events · Financing and Capital Events · SKYQ

• 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.

• 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.

• 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.

• 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.

auto_awesomeAnalysis · 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.