Advanced Battery Technologies (ABAT) Announces Pricing of $5M Registered Direct Offering

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 a securities purchase agreements with two follow-on institutional investors for the purchase and sale of 5,000,000 shares of its common stock and warrants to purchase up to an aggregate of 5,000,000 shares of common stock in a registered direct offering at a combined offering price of $1.00 per share and accompanying warrant. The warrants have an exercise price of $1.10 per share, 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 $5 million before deducting placement agent fees and other estimated offering expenses payable by the company and making a required 20% excess cash payment to certain of the company’s existing debtholders. The closing of the offering is expected to take place on or about December 23, 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.

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