American Battery Technology Company entered into an asset purchase agreement and membership interest purchase agreement to acquire Commercial hazardous waste recycling facility of LINICO Corporation for $27 million.
On June 30, 2023, American Battery Technology Company and LINICO Corporation entered into the Third Amended and Restated Membership Interest Purchase Agreement to acquire the Recycling Facility. Pursuant to the terms of the Amended Agreement, the parties agreed to (i) remove the requirement that $1.5 million of the purchase price be held in escrow for the settlement of indemnification claims, (ii) transfer back to American Battery Technology Company 1,923,077 of the shares issued by the Company in exchange for the elimination of such indemnification escrow, (iii) add a purchase price adjustment to the extent that, as of a specified value test date, the value of the portion of the purchase price comprised of shares does not equal at least $6 million, (iv) provide for an interim water rights agreement through the final purchase price payment date, (iv) advance the closing date to as soon as practicable after the declaration of effectiveness of the resale registration statement on Form S-3 filed by American Battery Technology Company for the resale of shares by Seller or its affiliates, and (v) remove the deadline to close the acquisition by June 30, 2023.