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Subsequent Events
3 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events

18. Subsequent Events

 

On June 18, 2024, at the recommendation of the compensation committee of the Company, our board of directors adopted, subject to the receipt of shareholder approval, the American Battery Technology Company 2024 Employee Stock Purchase Plan (the “ESPP”) providing for the issuance of up to 3,000,000 shares of our common stock. On November 13, 2024, at our 2024 annual meeting of shareholders (the “Annual Meeting:”) our shareholders approved the ESPP. The purpose of the ESPP is to provide employees of the Company and its subsidiaries (as set forth in the ESPP) with an opportunity to acquire a proprietary interest in the Company through the purchase of shares of common stock.

 

On November 12, 2024, part of the private placement transaction executed on August 1, 2024 was rescinded, resulting in an aggregate issuance of 41 units made up of: (i) with respect to non-employee investors, 18 units consisting of 25,000 shares of Common Stock (the “Shares”), 25,000 Series A Warrants to Purchase Common Stock (“Series A Warrants” as further described herein) and 25,000 Series B Warrants to Purchase Common Stock (“Series B Warrants” as further described herein and collectively, with the Series A Warrants, the “Warrants”) (such Shares and Warrants are collectively referred to herein as the “Units”), at the price of U.S. $25,000 per Unit; and (ii) with respect to employee investors, 23 units consisting of 19,531 Shares and 39,062 Series A Warrants (such Shares and Series A Warrants are collectively referred to herein as the “Employee Units”), at the price of U.S. $25,000 per Employee Unit. The Company retained an aggregate purchase price of $1.0 million.

 

On November 13, 2024, at the Annual Meeting, our shareholders approved and adopted an amendment (the “Amendment”) to the Company’s articles of incorporation, as amended, to increase the number of authorized shares of the Company’s common stock from 80,000,000 to 250,000,000. On November 14, 2024, the Amendment was filed with the Secretary of State of Nevada and was effective upon filing.