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LanzaTech Raises $20M in Direct Offering

LanzaTech raises $20M in direct offering. Stock at $8.05, down 51%. Company burns cash fast.

Emily Davis
ByEmily Davis- Senior Editor
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0
LanzaTech Raises $20M in Direct Offering
Photo: Prepared by Bond.az

NEW YORK - LanzaTech Global, Inc. (NASDAQ:LNZA) completed a registered direct offering of 2,000,000 shares to institutional investors, raising approximately $20 million in gross proceeds.

The stock trades at $8.05 with a market cap of $84.75 million, down 51% over the past week. The company is burning cash quickly.

D. Boral Capital LLC acted as exclusive placement agent.

LanzaTech uses gas-fermentation technology to convert waste carbon into sustainable aviation fuel and chemicals.

Recently, the company changed its auditor from Deloitte to BDO USA.

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