American Battery Technology Secures $10 Million Funding Boost

American Battery Technology Company Announces Significant Offering

American Battery Technology Company (NASDAQ: ABAT), an innovative force in the battery materials sector, is poised to enhance its operational capabilities following a recent announcement. The company has entered into securities purchase agreements with institutional investors to facilitate a registered direct offering involving 3,773,586 shares of its common stock. Accompanying these shares are warrants for an additional 3,773,586 shares, further expanding opportunities for investment.

Details of the Offering

The last market closing saw shares at $2.60; however, this transaction sets the offering price at $2.65 per share, including the warrants, according to Nasdaq regulations. Notably, the exercise price for the warrants is established at $2.80 per share. These warrants can be exercised immediately post-issuance and are effective for five years, allowing investors flexibility in their investment approach. This strategic move is projected to generate gross proceeds of approximately $10 million, which will be allocated towards furthering the company’s innovative projects.

Closing of the Offering

Completion of this offering is anticipated shortly, contingent upon standard closing conditions. A.G.P./Alliance Global Partners has taken the role of the sole placement agent, ensuring a smooth transaction process. This offering aligns with ABTC’s goal of fortifying its financial foundation to accommodate future projects and initiatives.

Regulatory Insights

The Securities and Exchange Commission (SEC) has approved a shelf registration statement pertinent to this security offering. The effective registration was noted on June 24, 2024, streamlining the company’s path to secure necessary funding while adhering to regulatory standards. Investors can find more details through the corresponding prospectus supplement that will be filed with the SEC.

About American Battery Technology Company

Based in Reno, Nevada, ABTC is an industry leader focused on creating and utilizing innovative technologies for the procurement and recycling of essential battery metals. With the escalating demand in electric vehicles, stationary storage, and personal electronics, the company is committed to establishing a circular supply chain for battery materials. By prioritizing sustainability and innovation, ABTC excels in meeting the urgent needs of a transforming energy landscape.

Market Impact

This funding initiative is more than just a financial transaction; it symbolizes ABTC’s commitment to tackling the challenges within the electric vehicle and renewable energy sectors. The funds are anticipated to fuel further advancements in technology, ensuring ABTC remains at the forefront of sustainable energy solutions while addressing the increasing market demand for battery metals.

Frequently Asked Questions

What is the significance of the recent funding for ABTC?

This $10 million funding allows ABTC to enhance its technology development and production capabilities, further strengthening its market position.

How will the funds from the offering be utilized?

The gross proceeds from the offering will primarily support the company’s innovative projects and sustainability initiatives in the battery materials sector.

What is the exercise price of the warrants?

The warrants issued in this offering have an exercise price of $2.80 per share, providing investors with a future investment opportunity.

Who is managing the offering?

A.G.P./Alliance Global Partners is serving as the sole placement agent for this securities offering, ensuring compliance with regulatory procedures.

Where can investors find more information about the securities?

Investors can access additional details via the SEC’s website and the base prospectus, which will include information related to this offering.

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