The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Lab-Grown Diamond Co. Scio Is Being Sold
A Nevada company is in the process of purchasing the assets of the Greenville, South Carolina-based diamond grower formerly known as Apollo.
Greenville, S.C.—A Nevada company has purchased Scio, the lab-grown diamond producer based in Greenville, South Carolina.
According to a Dec. 11 filing with the Securities and Exchange Commission, Adamas One Corp. agreed to pay $3.3 million in the 18 months after closing to pay off Scio’s debts; issue to Scio 350,000 shares of Adamas common stock guaranteed at a minimum of $2 per share; and issue 900,000 shares of Adamas stock to Scio shareholders.
The purchase is subject to approval by Scio’s shareholders and the filing of a registration statement for the Adamas shares.
As of Wednesday morning, no further filings had been made with the SEC in connection with the transaction.
Scio is the lab-grown diamond company formerly known as Apollo Diamond Corp. out of Boston and, as Apollo, was one of the first to begin commercial sales of gem-quality man-made diamonds.
In 2011, the company went public as Scio Diamond Technology Corp. and moved its operations from Boston to South Carolina.
Later it was alleged that former Apollo and Scio executive Edward S. Adams of Minneapolis, the son-in-law of Apollo founder Robert Linares who was forced out of the company in June 2014, had engineered the shift to cover up the fact that he had been embezzling millions from Apollo and Scio.
The U.S. Attorney’s Office in Minnesota charged Adams, a resident of Minneapolis, with 14 counts of fraud in March 2017. His case is ongoing.
Investors have sunk millions into Scio over the past few years, including a $2.5 million infusion in December 2014 and $1.57 million the following September.
The company was one of the 11 founding members of the International Grown Diamond Association, a not-for-profit formed to represent the interest of lab-grown diamond companies and, according to the IGDA website, it still is a member.
The Latest
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The announcement came as the company reported a 23 percent drop in production in Q1.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.