American Battery Materials, Inc. amended outstanding promissory and convertible notes, extending their maturity to November 30, 2026. If the company has not completed an uplist to NYSE American on or before that date, the principal due under the notes automatically increases by 15% from the June 30, 2026 balances, a stated total increase of $1,489,217.
Under the same condition, effective November 30, 2026, the company will arrange issuance of 779,901 Commitment Shares, including 612,476 shares previously agreed to in connection with the prior extension. The shares are to be issued in book-entry format within 10 business days after full execution of the applicable agreement and, if issued, will be issued in a private placement exempt from registration.
AMERICAN BATTERY MATERIALS, INC. (BLTH) reports a Board change and an operational update. On August 28, 2026, Justin Vorwerk resigned as a director, effective the same day. The company states his resignation was due to time constraints and other professional commitments, with no disagreement regarding operations, policies, or practices, and that the separation was amicable.
Separately, on or about August 28, 2026, the company completed the annual maintenance and renewal of its portfolio of 743 mining claims administered by the U.S. Bureau of Land Management. By paying the required annual maintenance fees, these claims remain valid and in good standing for the ensuing one-year maintenance period.
American Battery Materials Inc. (BLTH) amended certain outstanding promissory and convertible notes, extending their maturity date to September 30, 2026. If the company has not consummated an uplist of its common stock to NYSE American on or before that date, the principal on the notes will automatically increase 15%, adding $1,459,217 and bringing total principal to $11,187,330. Under the same uplist condition, the company will also automatically issue 612,476 shares of common stock to the noteholders. The company states that, with these amendments, it is not in default under any of its notes.
American Battery Materials Inc. plans a primary underwritten offering of 3,327,273 shares of common stock and accompanying warrants, plus pre-funded warrants to purchase up to 3,327,273 shares, at an assumed price of $5.50 per share and warrant. Each warrant is exercisable at $6.88 and each pre-funded warrant at $0.001 per share. The company expects net proceeds of about $16.3 million, to fund pre-production drilling, permitting and geological work at its Lisbon Valley lithium and magnesium brine project, potential expansion of mineral rights, and working capital.
The business is an exploration-stage U.S. critical minerals company with no revenue to date, focused on deploying direct lithium extraction technologies in Utah’s Paradox Basin. As of June 30 2026 it reported a net loss of $5.2 million for the first half of 2026, an accumulated deficit of about $36 million, cash of $5,704, and a stockholders’ deficit, leading auditors to express substantial doubt about its ability to continue as a going concern. Common shares outstanding are expected to be 10,162,430 after the offering. Listing its stock and warrants on the NYSE American is a condition to closing, and the Lisbon Valley project is not expected to reach production until around 2029, subject to permitting, technical success and additional financing.
American Battery Materials Inc. is an exploration-stage minerals company with no revenue for the three and six months ended June 30, 2026, and continues to focus on lithium brine claims in Utah’s Lisbon Valley. For the six-month period, it reported a net loss of $5,191,042, compared with $2,518,084 a year earlier, driven largely by non-cash items including a $1,045,346 loss on extinguishment of debt and $2,572,517 from stock issued for note modifications, plus $475,278 of interest expense.
At June 30, 2026, the company had cash of $5,704, total assets of $311,704 (including $206,000 of mineral claims), and total liabilities of $12,704,088, resulting in a stockholders’ deficit of $(12,392,384). Management discloses a working capital deficit of $12,598,384, substantial accumulated deficit of $36,148,163, and scheduled debt maturities of $9,628,113 in 2026, leading to substantial doubt about its ability to continue as a going concern without additional financing.
The company extended numerous promissory and convertible notes, frequently issuing common stock as additional consideration, and entered new notes including a $100,000 convertible note on July 13, 2026. Shares outstanding rose to 3,789,585 following prior reverse stock splits and equity issuances. Management also identifies multiple material weaknesses in internal control over financial reporting, including insufficient accounting expertise and lack of segregation of duties, although it believes the financial statements fairly present results.
Traverse Opportunity Fund reported a passive ownership stake in American Battery Materials Inc. common stock. The fund beneficially owns 271,047 shares, representing 7.2% of the company’s common stock, as of the filing date.
Traverse Opportunity Fund, organized in Delaware, holds sole voting and sole dispositive power over all 271,047 shares, with no shared voting or dispositive authority. The filing is signed by Chad Nelson, CFA, as Authorized Representative.
American Battery Materials Inc. is registering 3,327,273 shares of common stock and accompanying warrants, plus pre-funded warrants and underlying shares, in a primary public offering conditioned on obtaining a NYSE American listing for its stock and warrants. The assumed public offering price is $5.50 per share and warrant, with estimated net proceeds of $16,251,501 (excluding any over-allotment). The company has granted underwriters a 45-day option to purchase up to 499,091 additional shares and/or pre-funded warrants and 499,091 warrants.
The business is a U.S.-based renewable energy company focused on lithium and magnesium from brine using Direct Lithium Extraction. It controls 743 placer claims covering 14,320 acres in Utah’s Lisbon Valley but is an exploration-stage issuer under Regulation S-K Subpart 1300 with no mineral reserves and no revenue to date. Key milestones target drilling exploration wells in 2026, a pilot plant in 2027, and a production phase beginning around 2029, all subject to permits, technical success and financing.
Financially, the company reported a $6,410,564 net loss in 2025 and cash of only $32,281 at March 31, 2026, with a substantial working capital deficit and an auditor going-concern paragraph. On a pro forma basis after note conversion and this offering, cash would rise to about $16.3 million and stockholders’ equity to $14.8 million. Risks highlighted include continued losses, dependence on future capital raises, permitting and environmental regulation, unproven DLE technology at this site, commodity price volatility and potential dilution and price volatility for new investors.
American Battery Materials Inc. is registering a public offering of 3,327,273 shares of common stock and accompanying warrants to purchase 3,327,273 shares, with an assumed public offering price of $5.50 per share and warrant and a warrant exercise price of $6.88. The company may also issue pre-funded warrants for investors constrained by 4.99% or 9.99% beneficial ownership limits and has granted underwriters a 45-day option to buy up to 499,091 additional shares or pre-funded warrants and the same number of warrants.
After the offering, common stock outstanding is expected to be 10,139,460 shares (excluding options, RSUs and warrant exercises), and net proceeds are estimated at about $16.3 million, primarily to advance the 14,320-acre Lisbon Valley lithium and magnesium brine project, expand mineral rights, and for working capital. The company is an exploration-stage issuer with no revenue to date, a $6.4 million net loss in 2025 and a going-concern warning, and it is seeking to uplist from the OTC Pink market to NYSE American as a condition to closing this offering.
American Battery Materials Inc. filed Amendment No. 13 to its Form S-1 registration statement as an exhibit-only update. The company is adding Exhibit 5.1, a legal opinion from Olshan Frome Wolosky LLP on the validity of its common stock and accompanying warrants. The filing states that all other parts of the registration statement remain unchanged and are omitted from this amendment. The document includes an updated exhibit list and signature page executed by the chief executive officer, chief financial officer, and the company’s directors.
American Battery Materials Inc. is registering 3,327,273 shares of common stock with accompanying warrants to purchase 3,327,273 shares, plus 3,327,273 shares issuable upon warrant exercise, in a public offering at an assumed $5.50 per share and warrant.
The company is a U.S.-based renewable energy and technical minerals explorer focused on lithium and magnesium brines at its 14,320-acre Lisbon Valley Project in Utah, where it plans to deploy direct lithium extraction technologies. It currently has no revenue and is classified as an exploration stage issuer with no mineral reserves.
Pro forma for note conversion and this offering, cash would be about $16.3 million and stockholders’ equity about $14.8 million, with working capital turning positive. Net losses were $6.4 million in 2025 and $4.2 million for the three months ended March 31, 2026, and auditors have raised substantial doubt about its ability to continue as a going concern. Net proceeds are expected to fund Lisbon Valley drilling, permitting, technical work, and working capital. Listing on the NYSE American is a condition to closing.