This section describes the general terms of our capital stock. Our
capital stock may be offered directly or in connection with the
conversion, exchange or exercise of other securities. The following
description of our capital stock does not purport to be complete
and is subject to and qualified by reference to our Certificate of
Incorporation and our bylaws (the “Bylaws,” and
together with our Certificate of Incorporation, our “Charter
Documents”). For additional information, please read our Charter
Documents, which we have filed as exhibits to the registration
statement of which this prospectus forms a part, and the applicable
provisions of the Delaware General Corporation Law
Authorized Capital Stock
Our authorized capital stock consists of 101,000,000 shares, of
which 100,000,000 shares are common stock, par value $0.0001 per
share and 1,000,000 shares are preferred stock, par value $0.0001
per share. As of March 17, 2022, we had 16,337,030 shares of common
stock outstanding and, as of March 17, 2022, we had 0 shares of
preferred stock outstanding.
Each share of common stock is entitled to one vote in the election
of directors and on all other matters submitted to a vote of
stockholders. Stockholders do not have the right to cumulate their
votes in the election of directors.
Dividends, distributions and stock splits.
Holders of common stock are entitled to receive dividends if, as
and when such dividends are declared by the Board out of assets
legally available therefor after payment of dividends required to
be paid on shares of preferred stock, if any. Our existing debt
arrangements restrict our ability to pay cash dividends.
In the event of any dissolution, liquidation, or winding up of our
affairs, whether voluntary or involuntary, after payment of debts
and other liabilities and making provision for any holders of our
preferred stock who have a liquidation preference, our remaining
assets will be distributed ratably among the holders of common
All shares of common stock outstanding are fully paid and
Holders of common stock have no redemption or conversion rights and
no preemptive or other rights to subscribe for our securities.
Under the terms of the Certificate of Incorporation and the Bylaws,
the Company is prohibited from issuing any non-voting equity
securities to the extent required under Section 1123(a)(6) of
the Bankruptcy Code and only for so long as Section 1123 of
the Bankruptcy Code is in effect and applicable to the Company.
The common stock is currently listed on the NYSE
American under the symbol “BATL.”
Series A Warrants, Series B
Warrants and Series C Warrants
On the Plan
Effective Date (as defined herein), by operation of the Plan (as defined
herein) and the confirmation order, all warrants of our Predecessor
were cancelled and we entered into a warrant agreement
(the “Plan Warrant Agreement”) with Broadridge Corporate
Issuer Solutions, Inc. as the warrant agent, pursuant to which we
issued three series of warrants (the Series A Warrants, the
B Warrants and the Series C
Warrants together, the “Plan
Warrants”, and the holders thereof, the “Plan
Warrant Holders”), on a pro rata basis to pre-emergence holders of
our equity interests pursuant to the Plan.