Fishers-based American Resources Corp. has begun trading on The Nasdaq Capital Market. The company is underwriting a public offering of one million shares of common stock, which is expected to close Wednesday.
American Resources Corp., which specializes in the extraction, processing, transportation and sale of metallurgical coal and pulverized coal injection to the steel industry, expects to raise $4 million as a result of the offering. The company says it plans to use the net proceeds from the offering to initiate coal production on certain permits it owns, act on acquisition opportunities and for general corporate purposes such as working capital.
The company had previously traded on the OTC Markets Group.