Registered direct offering of $10 million at market price under Nasdaq rules Investing.com
Reno, Nev., Dec. 26, 2024 (GLOBE NEWSWIRE) — American Battery Technology Company (NASDAQ: ABAT ), an integrated critical battery materials company commercializing its technologies for both primary battery minerals and lithium-ion batteries from secondary minerals recycling, announced today that it has entered into securities purchase agreements with two institutional investors for the purchase and sale of 3,773,586 ordinary shares and warrants for the purchase of up to a total of 3,773,586 ordinary shares in a registered direct offer. The last closing market price was $2.60 per share, and this intraday transaction had a combined bid of $2.65 per share and a trailing order, at market price under Nasdaq rules. The warrants have a sale price of $2.80 per share, will be exercisable immediately upon the date of issuance, and will expire five years from the initial exercise date.
The gross proceeds of the offering will be approximately $10 million before deducting placement agent fees and other estimated offering expenses paid by the company. The offering is expected to close on or about December 27, 2024, subject to the satisfaction of customary closing conditions.
AGP/Alliance Global Partners (NYSE: ) is acting as the sole placement agent for the offering.
The shelf registration statement on Form S-3 (File No. 333-276329) relating to the offering of the securities described above was declared effective by the Securities and Exchange Commission (SEC) on June 24, 2024. The offering may be made only through the basic prospectus and the accompanying supplement to the prospectus. A prospectus supplement relating to the offering will be filed with the SEC. Electronic copies will be available on the SEC’s website at www.sec.gov or by contacting AGP/Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email to prospectus@allianceg.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification. under the securities laws of any such state or jurisdiction.
About American Battery Technology Company
American Battery Technology Company, headquartered in Reno, Nevada, has introduced the first technologies to unlock the domestically produced and recycled battery metals that are critically needed to meet the significant demand of the electric vehicle, stationary storage and consumer electronics industries. Committed to the circular battery metal supply chain, it works to continuously innovate and master new battery metal technologies that drive the global transition to electrification and the future of sustainable energy.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are “forward-looking statements”. For example, the company uses forward-looking statements in this press release when discussing the expected closing date of the offering and the use of proceeds from the offering. Although the company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, accurate. These forward-looking statements involve numerous risks and uncertainties, which could cause the company’s future results to differ materially from expectations. Potential risks and uncertainties include, among others, risks and uncertainties related to the company’s ability to continue as a going concern; general economic conditions and conditions affecting the activities in which the company operates; uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices. Additional information about the factors that could cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the SEC, including the Annual Report on Form 10-K for the year ended June 30, 2024. The Company assumes undertakes no obligation to update any information contained or referred to in this press release.
Tiffiany MoehringAmerican Battery Technology Company720.254.1556tmoehring@batterymetals.com
Source: American Battery Technology Company
