Arq, Inc 8-K, filed Jun 3, 2021
Arq, Inc. (ARQ)
8-K
2021-06-03
For: 2021-06-01
View Original
Added on
April 10, 2026
About this 8-K
Arq, Inc filed this 8-K on June 3, 2021, reporting on events of June 1, 2021.
Items reported
- Item 1.02: Ended a material agreement
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
U.S. 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): June 1, 2021
(Name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Registrant's telephone number, including area code: (720 ) 598-3500
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:
| Class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
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 1.02 | Termination of a Material Definitive Agreement | |||||||
On June 1, 2021, Advanced Emissions Solutions, Inc. (the "Company"), a Delaware corporation, repaid in full all outstanding indebtedness under its Term Loan and Security Agreement, dated December 7, 2018 (the "Loan Agreement"). The Company did not incur any early termination penalties as a result of the repayment of indebtedness or termination of the Loan Agreement. In connection with the repayment of outstanding indebtedness by the Company, the Company was automatically and permanently released from all security interests, mortgages, liens and encumbrances under the Loan Agreement.
| Item 8.01 | Other Events | |||||||
On June 3, 2021, the Company issued a press release announcing the payoff of the Loan Agreement. A copy of the Company’s press release, attached as Exhibit 99.1 to this report, is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. | |||||||
| (d) | Exhibits | |||||||
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 3, 2021
| Advanced Emissions Solutions, Inc. | |||||
| Registrant | |||||
| /s/ Greg Marken | |||||
| Greg Marken | |||||
| Interim Chief Executive Officer | |||||
3
Advanced Emissions Solutions Repays Outstanding Term Loan Balance
Elimination of term loan further bolsters financial position and strength
GREENWOOD VILLAGE, Colo., June 3, 2021 (GlobeNewswire) -- Advanced Emissions Solutions, Inc. (NASDAQ: ADES) (the "Company" or "ADES"), the parent company of ADA-ES, Inc. and ADA Carbon Solutions, LLC (collectively, "ADA"), today announced that it has repaid its outstanding indebtedness related to its three-year term loan. The final principal payment of $6.0 million, together with accrued interest, was repaid in full, without penalty on June 1, 2021.
On December 7, 2018, the Company and Apollo Credit Strategies Master Fund Ltd and Apollo A-N Credit Fund (Delaware) L.P. (collectively "Apollo”), executed the $70.0 million secured Term Loan and Security Agreement to fund the acquisition of ADA Carbon Solutions, LLC.
“Since our acquisition of ADA Carbon Solutions in December 2018 we have always expected that we would repay the $70.0 million loan before its stated three-year term,” said Greg Marken, Interim CEO of ADES. “Consistent with that expectation, I am pleased to announce today that we have made the final principal payment and fulfilled our obligations outlined in the loan agreement. Our unencumbered ownership of the Red River plant and associated assets is another critical step in optimizing our cash flows to maximize shareholder value.”
About Advanced Emissions Solutions, Inc.
Advanced Emissions Solutions, Inc. serves as the holding entity for a family of companies that provide emissions solutions to customers in the power generation and other industries.
 | ADA brings together ADA Carbon Solutions, LLC, a leading provider of powder activated carbon ("PAC") and ADA-ES, Inc., the providers of ADA® M-Prove™ Technology. We provide products and services to control mercury and other contaminants at coal-fired power generators and other industrial companies. Our broad suite of complementary products control contaminants and help our customers meet their compliance objectives consistently and reliably. | ||||
 | CarbPure Technologies LLC, (“CarbPure”), formed in 2015 provides high-quality PAC and granular activated carbon ideally suited for treatment of potable water and wastewater. Our affiliate company, ADA Carbon Solutions, LLC manufactures the products for CarbPure. | ||||
 | Tinuum Group, LLC (“Tinuum Group”) is a 42.5% owned joint venture by ADA that provides patented Refined Coal (“RC”) technologies to enhance combustion of and reduce emissions of NOx and mercury from coal-fired power plants. | ||||
Caution on Forward-Looking Statements
Statements in this press release regarding the Company's business that are not historical facts, including statements concerning optimizing cash flows and maximizing shareholder value, are forward-looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
Source: Advanced Emissions Solutions, Inc.
Investor Contact:
Alpha IR Group
Chris Hodges or Ryan Coleman
312-445-2870
ADES@alpha-ir.com