Form 8-K - Current report
27 Noviembre 2024 - 4:00PM
Edgar (US Regulatory)
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2024-11-26
2024-11-26
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): November 26, 2024
AMERICAN
BATTERY TECHNOLOGY COMPANY
(Exact name of registrant as specified in its charter)
Nevada
|
|
001-41811
|
|
33-1227980 |
(State
or other jurisdiction of |
|
(Commission |
|
(IRS
Employer |
incorporation
or organization) |
|
File
No.) |
|
Identification
Number) |
100
Washington Street, Suite 100
Reno,
NV |
|
89503
|
(Address
of principal executive offices) |
|
(Zip
Code) |
(775)
473-4744
(Registrant’s
telephone number including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class |
|
Trading
Symbol(s) |
|
Name
of Each Exchange on Which Registered |
Common
Stock, $0.001 par value |
|
ABAT |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
1.01. |
Entry
into a Material Definitive Agreement. |
On
November 26, 2024, American Battery Technology Company (the “Company”) issued to High Trail Investments ON LLC and High Trail
Special Situations LLC (collectively, the “Buyers”) senior secured convertible notes in the aggregate principal amount of
$12,000,000 (the “Notes”). The Notes are governed by the terms of the existing securities purchase agreement between the
parties, dated August 29, 2023, as amended on November 14, 2024, to take into account the terms of the new Notes (the “Purchase
Agreement”), which include changes to, among other things, the interest rate, conversion rate, collateral, prepayment events, covenants
and liquidity requirements. The purchase price for the Notes is the principal amount multiplied by the purchase price ratio of 0.825.
Buyers may request partial redemptions of up to an aggregate amount of $1,000,000 on the first calendar day of each month beginning on
January 1, 2025 or may convert the Notes into shares of common stock of the Company (the “Conversion Shares”) at a conversion
rate of (i) 1,333.33 Conversion Shares per $1,000 principal amount of Notes with respect to $3,000,000 of principal and (ii) 945.0992
Conversion Shares per $1,000 principal amount of Notes with respect to the remaining outstanding principal amount of the Notes. The Notes
bear zero coupon, mature on September 1, 2025, and are secured by certain real property, cash and investment accounts of the Company.
In connection with the issuance of the Notes, the Company identified and the Buyers waived, certain events that would otherwise be events
of default under the existing securities purchase agreement between the parties, dated August 29, 2023. This summary of the terms of
the Notes is qualified entirely by reference to the Notes and the amendment to the Purchase Agreement, copies of which will be filed
with the Commission as exhibits to the Company’s Quarterly Report on Form 10-Q for the quarter ending December 31, 2024.
A.G.P./Alliance
Global Partners acted as sole placement agent for the financing.
Item 2.03 |
Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The
information contained under Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.
Item
3.02. |
Unregistered
Sales of Equity Securities. |
The
information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02. The Company
offered and sold the Notes to the Buyers, who are accredited investors, in reliance on the exemption from registration provided by Section
4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). Neither the Notes nor the Conversion Shares are
or will be registered under the Securities Act, nor may they be offered or sold in the United States absent registration or an applicable
exemption from registration requirements. The Company has agreed to register the Conversion Shares for resale.
Exhibit
No. |
|
Description |
104 |
|
Cover
Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
|
AMERICAN
BATTERY TECHNOLOGY COMPANY |
|
|
|
Date:
November 27, 2024 |
By: |
/s/
Ryan Melsert |
|
|
Ryan
Melsert |
|
|
Chief
Executive Officer |
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