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$10M Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

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American Battery Technology Company (NASDAQ: ABAT) has announced a $10 million registered direct offering, selling 3,773,586 shares of common stock and warrants. The offering is priced at $2.65 per share and accompanying warrant, slightly above the last closing price of $2.60. The warrants, exercisable immediately with a $2.80 strike price, will expire in five years.

The transaction, expected to close around December 27, 2024, is being conducted through A.G.P./Alliance Global Partners as the sole placement agent. The offering is made under an effective S-3 shelf registration statement filed with the SEC in June 2024.

American Battery Technology Company (NASDAQ: ABAT) ha annunciato un'offerta diretta registrata di 10 milioni di dollari, vendendo 3.773.586 azioni ordinarie e warrant. L'offerta è fissata a 2,65 dollari per azione e warrant, leggermente sopra l'ultimo prezzo di chiusura di 2,60 dollari. I warrant, esercitabili immediatamente con un prezzo di esercizio di 2,80 dollari, scadranno tra cinque anni.

La transazione, che si prevede si chiuderà intorno al 27 dicembre 2024, è condotta attraverso A.G.P./Alliance Global Partners in qualità di unico agente di collocamento. L'offerta è effettuata sotto una dichiarazione di registrazione S-3 efficace depositata presso la SEC nel giugno 2024.

American Battery Technology Company (NASDAQ: ABAT) ha anunciado una oferta directa registrada de 10 millones de dólares, vendiendo 3,773,586 acciones ordinarias y warrants. La oferta tiene un precio de 2.65 dólares por acción y warrant, ligeramente por encima del último precio de cierre de 2.60 dólares. Los warrants, que son ejercitables inmediatamente con un precio de ejercicio de 2.80 dólares, expirarán en cinco años.

Se espera que la transacción cierre alrededor del 27 de diciembre de 2024, y se está llevando a cabo a través de A.G.P./Alliance Global Partners como el único agente de colocación. La oferta se realiza bajo una declaración de registro S-3 efectiva presentada a la SEC en junio de 2024.

아메리칸 배터리 테크놀로지 컴퍼니 (NASDAQ: ABAT)는 1천만 달러의 등록된 직접 제안을 발표하며 3,773,586주의 보통주와 워런트를 판매합니다. 제안 가격은 주당 및 워런트당 2.65달러로, 마지막 마감 가격 2.60달러보다 약간 높습니다. 워런트는 즉시 행사 가능하며 행사 가격은 2.80달러로, 5년 후에 만료됩니다.

이 거래는 2024년 12월 27일경에 마감될 것으로 예상되며 A.G.P./Alliance Global Partners를 통해 단독 배치 에이전트로 진행됩니다. 이 제안은 2024년 6월 SEC에 제출된 유효한 S-3 선반 등록 성명서에 따라 이루어집니다.

American Battery Technology Company (NASDAQ: ABAT) a annoncé une offre directe enregistrée de 10 millions de dollars, vendant 3 773 586 actions ordinaires et warrants. L'offre est fixée à 2,65 dollars par action et warrant, légèrement au-dessus du dernier prix de clôture de 2,60 dollars. Les warrants, pouvant être exercés immédiatement avec un prix d'exercice de 2,80 dollars, expireront dans cinq ans.

La transaction, prévue pour se clôturer autour du 27 décembre 2024, est réalisée par l'intermédiaire de A.G.P./Alliance Global Partners en tant qu'agent de placement exclusif. L'offre est faite sous une déclaration d'enregistrement S-3 efficace déposée auprès de la SEC en juin 2024.

American Battery Technology Company (NASDAQ: ABAT) hat ein registriertes Direktangebot in Höhe von 10 Millionen US-Dollar angekündigt, in dessen Rahmen 3.773.586 Aktien und Warrants verkauft werden. Der Angebotspreis liegt bei 2,65 US-Dollar pro Aktie und zugehörigem Warrant, etwas über dem letzten Schlusskurs von 2,60 US-Dollar. Die Warrants, die sofort mit einem Ausübungspreis von 2,80 US-Dollar ausgeübt werden können, laufen in fünf Jahren ab.

Die Transaktion, die voraussichtlich um den 27. Dezember 2024 abgeschlossen wird, wird über A.G.P./Alliance Global Partners als einzigen Platzierungsagenten durchgeführt. Das Angebot erfolgt auf Grundlage einer wirksamen S-3-Registernotiz, die im Juni 2024 bei der SEC eingereicht wurde.

Positive
  • Raised $10M in additional capital through equity offering
  • Offering price ($2.65) represents a premium to last closing price ($2.60)
  • Warrant exercise price ($2.80) set at premium to offering price
Negative
  • Significant dilution with 3,773,586 new shares being issued
  • Additional potential dilution from 3,773,586 warrant shares
  • Offering expenses and placement agent fees will reduce net proceeds

Insights

This $10M registered direct offering reveals significant implications for ABAT's capital structure and growth strategy. The offering price of $2.65 per share represents a slight premium to the last closing price of $2.60, indicating relatively healthy market confidence. The warrant structure, with a $2.80 exercise price and 5-year term, provides additional upside potential while creating future dilution risk. This financing adds approximately 7.3% dilution through the initial shares, with potential for double that if warrants are fully exercised. The timing and ATM pricing suggest opportunistic capital raising to strengthen the balance sheet and fund commercialization efforts in battery materials manufacturing and recycling. For a company with a $199M market cap, this raise represents a meaningful cash injection that should extend their operational runway, though investors should monitor the burn rate and execution of strategic initiatives.

The offering's structure demonstrates careful regulatory compliance through the use of a recently effective S-3 shelf registration (File No. 333-276329) and ATM pricing under Nasdaq rules. The involvement of institutional investors rather than retail suggests sophisticated scrutiny of the investment thesis. The warrant terms provide a balanced approach to future funding potential while adhering to securities regulations. The explicit disclaimers and SEC filing references reflect proper disclosure practices. The placement agent arrangement with A.G.P./Alliance Global Partners adds credibility to the transaction structure. For retail investors, the key legal protection lies in the registered nature of the offering, providing full SEC oversight and disclosure requirements compared to private placements.

The strategic timing of this capital raise during the broader battery technology sector evolution warrants attention. The premium pricing, albeit modest, suggests institutional investors see value in ABAT's dual-focus business model in both primary battery materials and recycling. The warrant overhang could create near-term selling pressure, but the $2.80 strike price creates a clear upside target. In the context of rising global demand for battery materials and increasing focus on domestic supply chains, this financing strengthens ABAT's competitive position. However, execution risks remain in scaling their technologies to commercial production. The relatively quick turnaround for closing (next day) indicates strong institutional interest despite market volatility.

Reno, Nev., Dec. 26, 2024 (GLOBE NEWSWIRE) --  American Battery Technology Company (NASDAQ: ABAT), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, today announced it has entered into securities purchase agreements with two institutional investors for the purchase and sale of 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 intraday transaction had at a combined offering price of $2.65 per share and accompanying warrant, priced “at-the-market” under Nasdaq rules. The warrants have an exercise price of $2.80 per share, and will be exercisable immediately from 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 closing of the offering is expected to take place on or about December 27, 2024, subject to the satisfaction of customary closing conditions.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

A 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 by means of a base prospectus and accompanying prospectus supplement. 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 A.G.P./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 the 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 pioneered first-of-kind technologies to unlock domestically manufactured and recycled battery metals critically needed to help meet the significant demand from the electric vehicle, stationary storage, and consumer electronics industries.  Committed to a circular supply chain for battery metals, ABTC works to continually innovate and master new battery metals technologies that power a 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 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 is using forward-looking statements in this press release when it discusses the expected closing date of the offering and 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, 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 others, risks and uncertainties related to the company's ability to continue as a going concern; general economic conditions and conditions affecting the industries in which the company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices. Additional information regarding the factors that may 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 no obligation to update any of the information contained or referenced in this press release.


FAQ

How much capital did ABAT raise in its December 2024 offering?

ABAT raised $10 million in gross proceeds through a registered direct offering of shares and warrants.

What is the pricing of ABAT's December 2024 share offering?

The offering was priced at $2.65 per share and accompanying warrant, slightly above the last closing price of $2.60.

How many new shares will ABAT issue in the December 2024 offering?

ABAT will issue 3,773,586 shares of common stock, plus warrants to purchase an additional 3,773,586 shares.

What are the terms of ABAT's December 2024 warrants?

The warrants have an exercise price of $2.80 per share, are immediately exercisable, and expire five years from the initial exercise date.

When will ABAT's December 2024 offering close?

The offering is expected to close on or about December 27, 2024, subject to customary closing conditions.
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