$BLTH on the way to Nasdaq in due time after the RS is settled
American Battery Materials Announces Reverse Stock Split
https://www.stocktitan.net/news/BLTH/american-battery-materials-announces-reverse-stock-jc0v8w843jd9.html
Reverse Split Represents Critical First Step on the Path to Uplisting to a Senior Exchange
GREENWICH, Conn., Dec. 07, 2023 (GLOBE NEWSWIRE) -- American Battery Materials, Inc. (OTC: BLTH) (“ABM”, the “Company”), a U.S. based critical minerals extraction company deploying environmentally responsible methods to protect and promote our nation’s security as we transition to a clean energy future, today announced the completion of a 1-for-300 reverse stock split of its issued and outstanding common stock, effective immediately. ABM expects its common stock to begin trading on a split-adjusted basis as of the commencement of trading on December 8, 2023.
“We are grateful to our stockholders for supporting the motion to effect a reverse split, and our new transfer agent, Transfer Online, for enabling the process,” said David Graber, Chairman and Co-Chief Executive Officer of American Battery Materials. “This sets us on a pathway to listing on a senior exchange to bring additional long-term value for our fellow shareholders –we look forward to providing further updates on this front as they develop and we move closer to an uplisting.”
ABM’s common stock will continue to trade on the OTC Marketplace under the symbol “BLTH” following the reverse stock split, with a new CUSIP number of 10319B209. After the effectiveness of the reverse stock split, the number of outstanding shares of common stock will be reduced from approximately 3.3 billion to approximately 11 million, subject to adjustment to give effect to the treatment of any fractional shares that stockholders would have received in the reverse stock split. No fractional shares will be issued in connection with the reverse stock split, and stockholders who would otherwise be entitled to a fractional share will automatically be entitled to rounding up of their fractional share to the nearest whole share.
ABM’s new transfer agent, Transfer Online, will be processing the completion of the reverse stock split. ABM expects that stockholders holding their shares in book-entry form or through a bank, broker or other nominee will not need to take any action in connection with the reverse stock split. Beneficial holders are encouraged to contact their bank, broker or other nominee with any procedural questions. Additional information concerning the reverse stock split can be found in ABM’s Form 8-K filed with the Securities and Exchange Commission on August 8, 2023.
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