American Battery Technology secures $20M credit facility from Mercuria for recycled battery metal prepayment

AMERICAN BATTERY TECHNOLOGY Co

Initial $6M term loan plus $14M delayed draw; interest at SOFR + 6% margin.
Maturity of 24 months; secured by certain real estate; includes a marketing agreement for Mercuria to sell battery products.
Covenants: min $1.5M cash, debt service coverage ratio of 1.25:1.00, total net debt to capitalization <100%.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AMERICAN BATTERY TECHNOLOGY Co entered into Credit Agreement with Mercuria Investments US, Inc. valued at $20 million (effective 2023-05-17).

Action: entry
Agreement: credit facility
Counterparty: Mercuria Investments US, Inc.
Value: $20 million
Effective: 2023-05-17

Exact text from the filing

On May 17, 2023, the Company entered into a Credit Agreement (the “Credit Agreement”) with Mercuria Investments US, Inc., as agent. The Credit Agreement provides for an aggregate loan amount of up to $20 million

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AMERICAN BATTERY TECHNOLOGY Co entered into Marketing Agreement with Mercuria Energy America, LLC (effective 2023-05-17).

Action: entry
Agreement: credit facility
Counterparty: Mercuria Energy America, LLC
Effective: 2023-05-17

Exact text from the filing

Concurrently, and included in the loan documents for the Credit Agreement, the Company entered into a Marketing Agreement (the “Marketing Agreement”) with Mercuria Energy America, LLC (“Mercuria Energy”), where the Company agreed to deliver certain products from its lithium-ion battery recycling plant for Mercuria Energy to market and sell to final customers.

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233 material agreements filed in the last 30 days. Browse all material agreements →

AMERICAN BATTERY TECHNOLOGY Co filing history →

Source: SEC EDGAR

accession 0001493152-23-018665

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