RENO, Nevada, Dec. 26, 2024 (GLOBE NEWSWIRE) — American Battery Technology Company (NASDAQ: ABAT), an integrated battery materials company that commercializes its technologies for manufacturing primary battery metals and secondary metal lithium-ion batteries. Recycling, announced today that it has entered into securities purchase agreements with two institutional investors to purchase and sell 3,773,586 shares of its common stock and warrants to purchase up to an aggregate of 3,773,586 shares of common stock in a registered direct offering. The last closing market price was $2.60 per share, and this was an intraday transaction with a combined offer price of $2.65 per share and an accompanying warrant, which was priced to market under Nasdaq rules. These warrants have an exercise price of $2.80 per share and will be immediately exercisable on 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 payable by the Company. The offering is expected to close on or about December 27, 2024, subject to customary closing conditions being satisfied.
AGP/Alliance Global Partners (NYSE:) is acting as the sole placement agent for this offering.
A shelf registration statement on Form S-3 (File No. 333-276329) relating to the offering of the above securities was declared effective by the Securities and Exchange Commission (SEC) on June 24, 2024. The offering may be made only by means of a base prospectus and a supplement Accompanying prospectus. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. 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 at prospectus@allianceg.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification. Under the securities laws of any such state or jurisdiction.
About the American Battery Technology Company
American Battery Technology Company, headquartered in Reno, Nevada, is pioneering first-of-its-kind technologies to open up domestically manufactured and recycled battery metals that are in high demand to help meet significant demand from the electric vehicle, stationary storage and consumer electronics industries. It is committed to a circular supply chain for battery metals, and is constantly innovating and perfecting new battery metal technologies that support the global electrification and sustainable energy future.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. 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 it discusses the expected closing date of the offering and the use of proceeds from the offering. Although management of the Company believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will or will prove to be correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among other things, risks and uncertainties relating to the Company's ability to continue as a going concern; General economic conditions and conditions affecting the industries in which the Company operates; uncertainty about regulatory requirements and approvals; Volatility of metal and commodity prices. Additional information regarding factors that could cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended June 30, 2024. The Company assumes 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
