Company Overview - American Battery Technology Company (ABTC) is an integrated critical battery materials company specializing in primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling [1] - The company is headquartered in Reno, Nevada, and has developed first-of-kind technologies to unlock domestically manufactured and recycled battery metals [6] - ABTC is committed to creating a circular supply chain for battery metals, focusing on innovation and mastering new battery metals technologies to support the global transition to electrification and sustainable energy [6] Financing Activity - ABTC has entered into securities purchase agreements with two institutional investors for the purchase and sale of 5,000,000 shares of its common stock and warrants to purchase up to 5,000,000 shares of common stock [1] - The offering price is $1.00 per share and accompanying warrant, with warrants exercisable at $1.10 per share, immediately exercisable upon issuance, and expiring five years from the initial exercise date [1] - The gross proceeds from the offering are expected to be approximately $5 million before deducting placement agent fees and other estimated offering expenses [2] - A required 20% excess cash payment will be made to certain existing debtholders [2] - The closing of the offering is expected to occur on or about December 23, 2024, subject to customary closing conditions [2] - A G P/Alliance Global Partners is acting as the sole placement agent for the offering [3] Regulatory and Offering Details - A shelf registration statement on Form S-3 (File No 333-276329) relating to the offering was declared effective by the SEC on June 24, 2024 [4] - The offering will be made through a base prospectus and accompanying prospectus supplement, which will be filed with the SEC [4] - Electronic copies of the prospectus supplement will be available on the SEC's website or by contacting A G P/Alliance Global Partners [4]
American Battery Technology Company Announces Pricing of $5M Registered Direct Offering