Abundia Global Impact stock price drops on $20 million funding news

2026-02-20 18:40:42

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Investing.com - Abundia Global Impact Group Inc. (NYSE:AGIG) stock fell 14.6% on Friday after the company announced a directed share offering to raise approximately $20 million in total proceeds.

This low-carbon energy solutions company has signed a securities purchase agreement with a new institutional investor to sell 5,934,718 common shares or pre-paid warrants. The offering is expected to close around February 23, 2026, subject to customary closing conditions.

Abundia plans to use the net proceeds to complete its front-end engineering design research, finalize the acquisition of RPD Technologies, repay debt, initiate the construction of an innovation center, and for working capital and general corporate purposes. The company focuses on converting biomass and plastic waste into high-value low-carbon fuels.

Abundia CEO Ed Gillespie stated, “This transaction will significantly reduce the risks associated with our near-term objectives and is expected to provide sufficient funds to complete FEED research, advance the RPD Technologies acquisition, and accelerate the development of the innovation center.”

Titan Partners, a subsidiary of American Capital Partners, served as the exclusive placement agent for this offering.

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