Reno, NV, December 20, 2024 – American Battery Technology Company (NASDAQ: ABAT), a leading integrated critical battery materials company, has announced a registered direct offering worth approximately $5 million. The offering involves the sale of 5,000,000 shares of common stock and warrants to purchase up to 5,000,000 additional shares at a combined price of $1.00 per share.
Offering Details
The warrants have an exercise price of $1.10 per share and will be exercisable immediately, expiring five years from the initial exercise date. The gross proceeds from the offering will be around $5 million before deducting placement agent fees and other expenses. The company is also required to make a 20% excess cash payment to certain existing debtholders.
Key Highlights
- Expected closing date: December 23, 2024
- A.G.P./Alliance Global Partners is acting as the sole placement agent
- The offering is being made pursuant to a shelf registration statement declared effective by the SEC on June 24, 2024
About American Battery Technology Company
American Battery Technology Company, headquartered in Reno, Nevada, has developed innovative technologies for domestic manufacturing and recycling of battery metals. The company is committed to creating a circular supply chain for battery metals to support the growing demand from the electric vehicle, stationary storage, and consumer electronics industries.
Forward-Looking Statements
This announcement contains forward-looking statements regarding the expected closing date and use of proceeds. These statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could cause such differences include economic conditions, regulatory uncertainties, and commodity price fluctuations. Additional information about these risks is available in the company’s SEC filings.
