Sky Quarry Inc. Completes ATM Equity Offering, Raises ~$13.53M

What Happened

• Sky Quarry Inc. announced that between April and June 2026 it completed its at‑the‑market (ATM) equity offering under its Form S-3 shelf, issuing approximately 4,408,137 shares of common stock and generating aggregate net proceeds of approximately $13,528,940.
• The ATM was run under a Controlled Equity Offering Sales Agreement originally with Cantor Fitzgerald & Co. (Jan 12, 2026). On April 22, 2026 the company replaced Cantor with Muriel Siebert & Co., LLC via an Amended and Restated Sales Agreement and filed an updated prospectus supplement increasing aggregate offering capacity to $12.6 million.

Key Details

• Offering period: April 2026 through June 2026; prospectus supplement dated April 22, 2026.
• Total shares issued (adjusted for 1-for-8 reverse split effective March 15, 2026): ~4,408,137 shares.
• Aggregate net proceeds: ~ $13,528,940.
• Sales by agent: ~52,485 shares sold through Cantor (net proceeds ≈ $1,306,941); 4,355,652 shares sold through Siebert (net proceeds ≈ $12,221,999).
• Prior prospectus supplement (Jan 12, 2026) allowed up to $4.7M; current supplement increased aggregate capacity to $12.6M (including remaining prior capacity).

Why It Matters

• The completed ATM raised immediate cash of about $13.53M, which can be used for operations, development or other corporate needs—improving the company’s liquidity position.
• Issuing ~4.41M new shares is dilutive to existing shareholders; investors should account for the increased share count when assessing per‑share metrics.
• The change of sales agent to Siebert and the increased offering capacity show the company’s ongoing ability to access capital through its shelf registration.