American Battery Technology amends LiNiCo deal with $15M cash plus 10M shares for recycling facility

AMERICAN BATTERY TECHNOLOGY Co

Amended agreement includes immediate $5M cash and 10M shares of restricted common stock.
Additional $10M cash payment due by April 21, 2023.
$1.5M of purchase price held in escrow for up to 18 months for indemnification claims.
Pre-closing lease grants immediate and unlimited access to the Tahoe-Reno facility starting April 21, 2023.
Facility located at 2500 Peru Drive, McCarran, Nevada; company to install lithium-ion battery recycling technologies.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AMERICAN BATTERY TECHNOLOGY Co amended Membership Interest Purchase Agreement with LiNiCo Corporation valued at amended and restated; immediate cash payment of $5,000,000 and 10,000,000 shares of restricted commo (effective 2023-04-06).

Action: amendment
Agreement: asset purchase
Counterparty: LiNiCo Corporation
Value: amended and restated; immediate cash payment of $5,000,000 and 10,000,000 shares of restricted commo
Effective: 2023-04-06

Exact text from the filing

On April 6, 2023, the Company and LiNiCo amended and restated the membership interest purchase agreement in order to enter into a pre-closing lease which is expected to begin on April 21, 2023.

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Source: SEC EDGAR

accession 0001493152-23-011312

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