Aqua Metals (AQMS +0.8%) received an additional progress payment of $1.5M from its insurance provider.
Company has now collected a total of $21.8M of insurance proceeds related to the November 2019 fire event, out of which, $14.2M have been paid to Aqua Metals and the balance of $7.6M have been allocated to the retirement of the Veritex Bank loan.
Layer 3 has now paid out $9.3M, which is ~75% of the total Layer 3 insurance coverage amount of $12.5M. Layer 4 accounts for the remaining $25M of the potential $50M of total collections.
Previously: Aqua Metals secures insurance payment receipt of $5.3M (Aug. 16)