American Battery Technology Company announces share consolidation in preparation for listing on major national exchange.
American Battery Technology Company (ABTC) (OTCQX: ABML), an integrated critical battery materials company that is commercializing both its primary minerals manufacturing and secondary minerals lithium-ion battery recycling technologies, announced that the ABTC board of directors approved a 1-for-15 reverse split of its common stock effective at 9:00 a.m. Eastern Time on Monday, September 11, 2023.
ABTC’s common stock will continue to trade on OTCQX Markets (“OTC”) under the symbol “ABML” and will begin trading on a split-adjusted basis when the market opens on Monday, September 11, 2023.
The company’s board of directors approved the reverse stock split with the objective of uplisting the company’s shares to The Nasdaq Capital Market (Nasdaq). As a result of the reverse stock split, every 15 shares of common stock issued and outstanding as of the effective date will be automatically combined into one share of common stock. The reverse stock split will not change the terms of the common stock.
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No fractional shares will be issued in connection with the reverse stock split. Any fractional shares of common stock resulting from the reverse stock split will be rounded up to the nearest whole post-split share, and no shareholders will receive cash in lieu of fractional shares.
About American Battery Technology Company
American Battery Technology Company is uniquely positioned to supply low-cost, low-environmental impact, and domestically sourced battery metals through its three divisions: lithium-ion battery recycling, primary battery metal extraction technologies, and primary resources development.
American Battery Technology Company has built a clean technology platform that is used to provide a key source of domestically manufactured critical and strategic battery metals to help meet the near insatiable demand from the electric vehicle, electrical grid storage, and consumer electronics industries.
This ESG-principled platform works to create a closed-loop circular economy for battery metals that champions ethical and environmentally sustainable sourcing of critical and strategic materials.
Highlight
- Share consolidation is part of the company’s uplisting process for The Nasdaq Capital Market listing requirements. It further simplifies ABTC’s capital structure and is intended to enable the company to meet Nasdaq’s rigorous listing requirements.
- The consolidation is an important step in the company’s next phase of growth with the potential to provide greater exposure and increased access to global capital markets and institutional investors to help support future growth at more favorable terms.
- The company is uniquely positioned with its first-of-kind technologies for both lithium-ion battery recycling and primary lithium manufacturing operations to address the immense imbalance of supply and demand for battery metals, particularly sustainably- and domestically-sourced battery metals.
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American Battery Technology Company Announces Share Consolidation in Preparation for Listing on Major National Exchange, RENO, Nev., September 11, 2023
