In February, the company completed an underwritten public offering of 46,000,000 shares of common stock at a public offering price of $1.00 per share. The gross proceeds to AppHarvest from this offering were $46.0 million, before deducting underwriting discounts and commissions, and offering expenses. AppHarvest expects to use the net proceeds of the offering for working capital and general corporate purposes. The company has been focused primarily on non-dilutive capital, so this is the first underwritten public offering the company has made since going public in 2021.