Financing ·
Extends notes to Nov 30 with $1.49M penalty and 780K shares if NYSE American uplist fails
BLTHAmerican Battery Materials, Inc.
American Battery Materials Inc. amended outstanding promissory and convertible notes, extending the maturity date to November 30, 2026. The agreement includes a default provision: if the company does not complete an uplist to the NYSE American by that date, the principal balance will automatically increase by $1,489,217 (a 15% increase from June 30 balances). Additionally, the company must issue 779,901 shares of common stock as commitment shares upon such failure. These equity issuances are exempt from registration under Section 4(a)(2) and Regulation D. The filing highlights significant contingent liabilities tied to regulatory listing compliance. American Battery Materials Inc. operates in the battery materials industry, focusing on the development and production of critical minerals for electric vehicle batteries.