8-K
filed September 28, 2023, 7:59 PM ET
ticker BLTH
CIK 0001487718
debt
confidence high
sentiment neutral
materiality 0.75
AMERICAN BATTERY MATERIALS, INC. (BLTH): debt financing — American Battery Materials amends $1.55M convertible notes, issues $450K new notes tied to Seaport merger
AMERICAN BATTERY MATERIALS, INC.
- Amended convertible notes with five holders totaling $1.55M; conversions delayed until after Seaport merger or six months.
- Issued 15.6M shares as consideration for amendments; additional shares may be issued if merger valuation lower.
- Issued new $450K convertible notes to two investors; 7.5% interest, discount conversion tied to uplist trigger.
- Issued 4.5M shares to note purchasers; voluntary conversion after 180 days at 65% of VWAP.
- All transactions support proposed merger with Seaport Global Acquisition II Corp. (SGII).
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
AMERICAN BATTERY MATERIALS, INC. amended convertible notes of $1,550,000 with five holders.
- Instrument
- convertible notes
- Principal
- $1,550,000
- Counterparty
- five holders
- Event
- amendment
Exact text from the filing
The Company entered into a Convertible Note Amendment Agreement (each, an “ Amendment Agreement ”) with each of the five holders (each, a “ Holder ”, and collectively, the “ Holders ”) of convertible notes in the cumulative principal amount of $1,550,000 issued by the Company (each, a “ Note ”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
AMERICAN BATTERY MATERIALS, INC. incurred convertible notes of $250,000 and $200,000 with two investors at 7.5% interest per annum maturing 12-months.
- Instrument
- convertible notes
- Principal
- $250,000 and $200,000
- Counterparty
- two investors
- Rate
- 7.5% interest per annum
- Maturity
- 12-months
- Event
- incurrence
Exact text from the filing
The Company entered into a Note Purchase Agreement (the “ Purchase Agreement ”) with two investors (each, a “ Purchaser ”) pursuant to which, among other things, each Purchaser purchased from the Company a convertible note (the “ New Notes ”) in the original principal amounts of $250,000 and $200,000, respectively.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
AMERICAN BATTERY MATERIALS, INC. amended Convertible Note Amendment Agreement with five holders of convertible notes valued at Amendment of convertible notes totaling $1,550,000 principal; delay of voluntary conversions; issuan (effective 2023-09-22).
- Action
- amendment
- Agreement
- notes offering
- Counterparty
- five holders of convertible notes
- Value
- Amendment of convertible notes totaling $1,550,000 principal; delay of voluntary conversions; issuan
- Effective
- 2023-09-22
Exact text from the filing
On 22 September 2023, American Battery Materials, Inc. (the “ Company ”) closed the following related transactions: A. Amendment of Convertible Notes : The Company entered into a Convertible Note Amendment Agreement (each, an “ Amendment Agreement ”) with each of the five holders (each, a “ Holder ”, and collectively, the “ Holders ”) of convertible notes in the cumulative principal amount of $1,550,000 issued by the Company (each, a “ Note ”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
AMERICAN BATTERY MATERIALS, INC. entered into Note Purchase Agreement with two investors valued at Issuance of new convertible notes in original principal amounts of $250,000 and $200,000; 12-month m (effective 2023-09-22).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- two investors
- Value
- Issuance of new convertible notes in original principal amounts of $250,000 and $200,000; 12-month m
- Effective
- 2023-09-22
Exact text from the filing
The Company entered into a Note Purchase Agreement (the “ Purchase Agreement ”) with two investors (each, a “ Purchaser ”) pursuant to which, among other things, each Purchaser purchased from the Company a convertible note (the “ New Notes ”) in the original principal amounts of $250,000 and $200,000, respectively.
View on SEC.gov
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