Company Overview - American Battery Technology Company (ABTC) is based in Reno, Nevada, and focuses on technologies for domestically manufactured and recycled battery metals, essential for electric vehicles, stationary storage, and consumer electronics [2] - The company is committed to a circular supply chain for battery metals and aims to innovate in battery metals technologies to support the transition to electrification and sustainable energy [2] Securities Offering - ABTC has entered into securities purchase agreements with two institutional investors for the purchase of 5,000,000 shares of common stock and warrants to purchase an additional 5,000,000 shares at a combined offering price of $1.00 per share [3] - The warrants have an exercise price of $1.10 per share, are immediately exercisable, and will expire five years from the initial exercise date [3] Financial Details - The gross proceeds from the offering are expected to be approximately $5 million before deducting placement agent fees and other estimated expenses, including a required 20% excess cash payment to existing debtholders [8] - The closing of the offering is anticipated to occur on or about December 23, 2024, subject to customary closing conditions [8] Regulatory Information - A shelf registration statement on Form S-3 relating to the offering was declared effective by the SEC on June 24, 2024, and a prospectus supplement will be filed with the SEC [6]
American Battery Technology Company Announces Pricing of $5M Registered Direct Offering