American Battery Metals enters into $15M registered direct offering with single institutional investor

American Battery Metals Corporation (OTCQB:ABML), which is in the process of changing its name to American Battery Technology Company, has announced a $15 million registered direct offering with a single institutional investor.

Under the financing arrangement, the company said it is selling 9,090,910 shares at $1.65 each for gross proceeds of about $15 million before deducting placement agent fees and expenses. 

The closing of the offering is expected to occur on or about April 28, with A.G.P./Alliance Global Partners acting as the sole placement agent.

READ: American Battery Metals addresses Department of Energy’s Request for Information on battery supply chain risks

American Battery said it is positioned to supply battery metals through its three divisions: lithium-ion battery recycling, extraction technology, and primary resources. 

The company recently announced the groundbreaking for its lithium-ion battery recycling facility in Fernley, Nevada.

It has built a clean technology platform that increases the production of primary metals used in the batteries that power electric cars, grid storage applications, consumer electronics, and tools. The green platform creates a circular economy for battery metals that champions ethical and environmentally sustainable sourcing of critical materials.

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Story by ProactiveInvestors