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BLTH OS is the denominator of the merger formula, The formula increases our shares post-merger based on the millions of dollars SGII brings to the table, currently $36M, minimum is $20M.
Merger is valued at $120M. The Commons will be reduced to 11.2M then calculated based on the merger formula likely increasing holdings. Worth noting Insiders own majority of the Commons.
SGII also PR’d recent update about moving forward with the 120M merger
It’s Crystal Clear… the silence is speaking… take a glance at the accumulation.
I’m in the green over 6 figures now and we haven’t starter a run… gl
Making 7 figure profits is not easy… if it was everyone would be buying $BLTH now. gl
That is correct, 70% redemption was last February, ABM agreement with SGII signed in June...
SGII last 10Q shows $44.2M in trust, the next 10Q due in a few days will show somewhere around $34M in trust due from the recent redemption.
Doesn’t matter, some may sell a few shares but if a large position is desired may want to look into buying SGII.
Lithium is happening, either in before blth breaks .02 or pay much much higher.
Hows that rumor going?
BLTH & SGII merger about lifting to NASDAQ ASAP, any money is welcome bonus.
ABM already secured funding ($1.5M) for the initial drilling to take few samples complete the Lithium report aka Canada NI 43-101 or US SK-1300.
This is just a technicality as we already know the Lithium is there (See Sticky Report above).
Once this report is completed, Money will be lining up for access to our Lithium.
See filings/PR’s
Take it up with the SEC,
I'll post a screen shot and link: Enjoy your day and rumor, we all like a good rumor. gl...
SGII 10Q
No need be sorry... check the filing, it's a SEC filing and says in black & White what's in Trust $44.9M.. but hey, do what need to do...
I guess that's how rumors start by just saying it... One problem: SGII has $44.9M
Post 14387
SGII Shareholders approved of the Business Combination extension... in other words, the merger is moving forward thus gives ABM legitimacy of having the goods (Lithium). Read more here.
This is the beginning of a new Chapter. Thank you
I dialed in, all 3 measures were approved . So good news for $BLTH!
Me too, I was trying clarify how the ratio will be determined and less of what the ratio will be.
What I find interesting is our share count increases upon merger...
Good calculations stervc, no doubt in the ballpark.
Step-by-step:
Under the Merger Agreement, the stockholders of ABM will receive a number of shares of SGII common stock based on an exchange ratio (the “Exchange Ratio”), the numerator of which is equal to the number of shares of SGII common stock equal to the quotient of (i) (A) $160,000,000, plus (B) Closing Date Cash, minus (C) the Closing Date Indebtedness, plus (D) the aggregate exercise price of all Company Warrants (excluding any Company Warrants that will terminate by their terms upon the Effective Time), divided by (ii) $10.00, and the denominator of which is equal to the number of outstanding shares of ABM, including Company Convertible Note Conversion Shares (all capitalized terms in the Exchange Ratio as defined in the Merger Agreement).
SGII 10Q
BLTH 8K
BLTH 8K
(A) Numerator: 120M lowered
(B) Closing Cash: $44.9M
(C) Indebtedness: $8.7M
(D) Warrants: $915K (Not Sure correct value)
Denominator: 11,006,368
120 + 44.9 = 164.9
164.9 - 8.7 = 156.2
156.2 + .915 = 157.1
157.1 / 10 = 15.71
15,710,000 / 11,006,368 = 1.427 Ratio
Just a ballpark estimate with missing figures
Drilling permits are in the process and could be issued at any moment.
It will be necessary for ABM to re-enter an oil and gas well or to drill a new well to obtain brine samples for analysis and metallurgical testing. Permits for such operations will be required from the BLM and the Utah Division of Oil, Gas and Mining. These permits are currently in process.
TECHNICAL REPORT SUMMARY
True, reason BLTH is SEC reporting. Again I say, if don’t like money ignore. gl
Fraction of Billions of dollars… I already did the math... if don't like money ignore... gl
Agree, now is a good time to buy.
When Boutsikakis took over the Company was good time to buy.
Good clue to buy was when Garber & Lipson bought Commons a year ago.
Another good time was when the the RS was filed causing sp drop under half-penny.
Something like .0043 x BLTH shares or 1 SGII for 230 BLTH shares. OS drops from 3.3B to 14.3M and increased MC $120M.with pps $8.00
100K BLTH shares today cost $1700, after merger worth $3400. Immediately doubling your money then Lithium is priced in and the volume on the nasdaq will cause a 10 fold increase or more...
Figures above are rounded/estimated.
Not losing value, gaining value, the majority of OTC traders refuse or can't comprehend from being blinded by a RS. gl
You, Me and all the other long term holders are aware the RS is only a tool to be used to list on the nasdaq. Since ABM is doing a SPAC with SGII, the RS not required thus should be cancelled or explained..
Next best thing is the RS is set to expire in October. Good chance the merger is closed by then.
Ten Billion Dollar Company in the making…
“Expanding access to lithium deposits further diversifies our portfolio and represents a critical step in the pursuit of our mission to become a leader in the commercial production of lithium in the U.S.
$BLTH
Insiders own nearly 90% of the Commons… checkout 10k
Retail owns almost all the float minus the Insiders holdings (Form 3's). and we're holding very tight thus little to no volume.
“In BLTH, the insiders are holding 60+% of the common shares...”
Agree, RS expires in October, sp likely climb as we get closer to the Anniversary date.
“Interesting…I think that means no r/s???…which I personally didn’t think would happen…something is coming$$$”
The other one is being pumped thus suspect traders are freeing capital… more will be made here and all they have to do is buy and wait…
“Float super locked and peopling selling into the bid..smh! “
When Note Holders stop dilution and buy shares back it’s a sign to follow the money. Not only did Holders buy, they settled $11M debt for Commons…
“You Betcha! I actually took a job to load more shares with my paycheck, Lol”
Yes, $XNNHQ is beautiful, so beautiful that I believe David Lazar will become the Custodian.
$XNNHQ
Nothing other than David Lazar is active.
ABM gathering/connecting with lithium and battery raw materials World Leaders..
As the biggest gathering of the global battery raw materials community, there is no better chance to network with peers and connect with leaders in the industry.
Fastmarkets Lithium Supply and Battery Raw Materials
RS kills when there's no value. I suspect ABM will cancel the split but if not, wouldn't kill us because we have the value keep moving forward.
Market closed today,
ABM becoming a wholly-owned subsidiary of SGII. The holders of outstanding ABM shares will receive equity in SGII valued at $160 million.
Value is based on SGII current value then add value ABM into the mix.
Estimated Post-Transaction Enterprise Value of $225 Million
here
There's likely a RS cancelation is in the works may cause panic buying, any hopes getting shares under a nickel likely disappear.
.
It's getting very serious...
ABM has also engaged advisory firms Buenos Aires Capital Partners, and iRadia Capital to explore acquisition and joint venture opportunities to diversify its lithium platform into Latin America with a focus on Argentina. Buenos Aires Capital Partners is a leading independent investment banking firm in Latin America, headquartered in Argentina, delivering best-in-class financial and strategic advisory services on landmark M&A and JV transactions. The two firms have more than five decades of collective experience with top tier global investment banks.
$BLTH
ABM is consolidating, as soon as the short term holders are done selling we continue the climb. Our neighbor has a $220M MC…
ASX: ASN Market Cap: $220M, ABM will continue to uptick to a similar MC.
ANSON RESOURCES LIMITED ASN
Bust 02 resistance today... update:
ABM’s target deposit model is similar in substantially all respects to that of Anson Resources Limited, an Australian-based company focused on lithium exploration in the Paradox Basin, which is located 50 miles northwest of ABM’s claim block.
https://www.globenewswire.com/news-release/2023/06/09/2685499/0/en/American-Battery-Materials-Inc-Releases-New-Technical-Report-Summary-on-its-Lisbon-Valley-Lithium-Project.html
Peers have MC's in the Billions,
Transaction Overview
The combined company will have an estimated pro-forma enterprise value of $225 million. It is intended that 100% of existing ABM shareholders will roll over their equity and own approximately 70% of the pro forma equity of the combined company in connection with the Proposed Business Combination, which is expected to close in the fourth quarter of 2023, subject to stockholder approvals and other customary closing conditions.
Gotta luv the lockup period. Small float upon uplist to Nasdaq
Another way look at it: Note holders stopped dilution then bought shares on the open market (SEC form 3’s). Then the Note holders settled $11M debt for 3.3B Common shares. Insiders own ~80% of the OS not selling on the OTC market. Float about 360M with Phase II NI report due be released any day now.
What is a NI Report
$BLTH $SGII