Electrified Materials closes $9.5M Series A preferred stock offering

American Resources Corporation (NASDAQ: AREC) announced that its majority-owned subsidiary, Electrified Materials Corporation, has closed a private placement offering of 378,200 shares of Series A Convertible Preferred Stock at $25.00 per share, raising approximately $9.5 million in gross proceeds before placement agent fees and other expenses.

The initial tranche funding occurred on May 22, 2026. Each preferred share is convertible into shares of common stock equal to $25 divided by the lesser of 85% of the initial go-public listing price, if such a transaction occurs, or $125 million divided by the fully diluted capitalization at the time of a go-public transaction.

Maxim Group LLC served as the sole placement agent for the offering.

The securities were sold under Section 4(a)(2) of the Securities Act of 1933 and Regulation D, and have not been registered under federal or state securities laws. The securities may not be resold in the United States without an effective registration statement or an applicable exemption.

Electrified Materials Corporation specializes in recycling end-of-life magnets, batteries, and ferrous metals, targeting the supply of copper, aluminum, steel, rare earth elements, and battery materials for technology, commercial, and defense markets.

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