LanzaTech Global Inc. (NASDAQ: LNZA) announced it entered into a securities purchase agreement with institutional investors for a registered direct offering of 2 million shares of common stock, according to a company statement.

The offering is expected to generate gross proceeds of approximately $20 million before deducting placement agent fees and other expenses. The company plans to use net proceeds for general corporate purposes.

The transaction is expected to close on or about May 18, 2026, subject to customary closing conditions. D. Boral Capital LLC serves as the sole placement agent for the offering.

LanzaTech is conducting the offering under an effective shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on November 1, 2024. A final prospectus supplement and accompanying base prospectus will be filed with the SEC.

The carbon management company uses gas-fermentation technology to convert waste carbon into products including sustainable aviation fuel and chemicals. LanzaTech is headquartered in Skokie, Illinois.