UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): November
7, 2023
AMERICAN BATTERY MATERIALS, INC.
(Exact Name of Registrant as Specified in Charter)
| Delaware |
|
001-41594 |
|
22-3956444 |
|
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
500 West Putnam Ave. Suite 400
Greenwich, Connecticut 06830
(Address of Principal Executive Offices)
Registrant’s telephone number, including area
code: 800-998-7962
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☒ |
Written communications pursuant to Rule 425 under the Securities Act |
| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of
the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| None |
|
N/A |
|
N/A |
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by checkmark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 7.01 Regulation FD Disclosure.
The information set forth below under this Item 7.01,
including the exhibit attached hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section
18 of the Securities and Exchange Act of 1934, as amended from time-to-time (the “Exchange Act”), or otherwise subject
to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Exchange Act
or the Securities Act of 1933, as amended from time-to-time, except as shall be expressly set forth by specific reference in such a filing.
On 07 November 2023 American Battery Materials, Inc.
(the “Company”) issued a press release relating to the Company’s execution of a Term Sheet with Xantippe Resources
Limited (ASX: XTC). A copy of the press release is attached hereto as Exhibit 99.1.
Important Information and Where to Find It
The Company has previously disclosed a proposed business
combination (the “Proposed Business Combination”) with SGII and related transactions (collectively, the “Transactions”).
In connection with the Transactions, (i) the Company intends to file Schedule 14C Information Statements with the U.S. Securities and
Exchange Commission (the “SEC”); and, (ii) SGII has filed a Registration Statement on Form S-4 with the SEC on 22 September
2023, which includes a proxy statement/prospectus of SGII (the “S-4”), as well as other documents filed with the SEC
in connection with the Proposed Business Combination. Stockholders of the Company can obtain copies of the S-4 and other documents filed
with the SEC that will be incorporated by reference therein, without charge, at the SEC's website at www.sec.gov. The information
contained on, or that may be accessed through, the websites referenced in this communication is not incorporated by reference into, and
is not a part of, this communication.
Participants in the Solicitation
SGII and the Company and certain of their respective
directors, executive officers, and other members of management and employees may be deemed participants in the solicitation of proxies
from SGII’s and ABM’s stockholders in connection with the Transactions. SGII’s and ABM’s stockholders and other
interested persons may obtain, without charge, more detailed information regarding the directors and officers of SGII and ABM, in, respectively,
the S-4; SGII’s Annual Report on Form 10-K for the year-ended December 31, 2022 filed with the SEC on April 4, 2023; and, ABM’s
Annual Report on Form 10-K for the year-ended December 31, 2022 filed with the SEC on April 21, 2023. Information regarding the persons
who may, under SEC rules, be deemed participants in the solicitation of proxies to SGII stockholders in connection with the Proposed Business
Combination will be set forth in the proxy statement for the Proposed Business Combination to be filed by SGII. Additional information
regarding the interests of participants in the solicitation of proxies in connection with the Proposed Business Combination will be included
in the Registration Statement that SGII intends to file with the SEC. Free copies of these documents may be obtained as described in the
preceding paragraph. Additional information regarding the interests of participants in the solicitation of proxies in connection with
the Proposed Business Combination is included in the S-4 filed with the SEC.
No Offer or Solicitation
This Current Report on Form 8-K and the exhibits hereto
do not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in
any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities
laws of any such jurisdiction.
Forward Looking Statements
This Report includes certain statements that are not
historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,”
“will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,”
“should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,”
“future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not
statements of historical matters. All statements, other than statements of present or historical fact included in this communication,
regarding the Proposed Business Combination, ABM’s ability to consummate the Transactions, the benefits of the Transactions and
the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated
financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking
statements. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations
of the respective management of SGII and ABM and are not predictions of actual performance. These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction
or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ
from assumptions. Many actual events and circumstances are beyond the control of SGII or ABM. Potential risks and uncertainties that could
cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited
to, changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully
or timely consummate the business combination, including the risk that any regulatory approvals are not obtained, are delayed or are subject
to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that
the approval of the stockholders of SGII or ABM is not obtained; failure to realize the anticipated benefits of business combination;
risk relating to the uncertainty of the projected financial information with respect to ABM; the amount of redemption requests made by
SGII’s stockholders; the overall level of consumer demand for lithium; general economic conditions and other factors affecting;
disruption and volatility in the global currency, capital, and credit markets; ABM’s ability to implement its business and growth
strategy; changes in governmental regulation, ABM’s exposure to litigation claims and other loss contingencies; disruptions and
other impacts to ABM’s business, as a result of the COVID-19 pandemic and government actions and restrictive measures implemented
in response, and as a result of the proposed transaction; ABM’s ability to comply with environmental regulations; competitive pressures
from many sources, including those, having more experience and better financing; changes in technology that adversely affect demand for
lithium compounds; the impact that global climate change trends may have on ABM and its potential extraction operations; any breaches
of, or interruptions in, SGII’s or ABM’s information systems; fluctuations in the price, availability and quality of electricity
and other raw materials and contracted products as well as foreign currency fluctuations; changes in tax laws and liabilities, tariffs,
legal, regulatory, political and economic risks.
More information on potential factors that could affect
SGII’s or ABM’s financial results is included from time-to-time in SGII’s and ABM’s respective public reports
filed with the SEC, including their respective Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K,
and the S-4. If any of these risks materialize or SGII’s or ABM’s assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking statements. There may be additional risks that neither SGII nor ABM presently
know, or that SGII and ABM currently believe are immaterial, that could also cause actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements reflect SGII’s and ABM’s expectations, plans or forecasts
of future events and views as of the date of this communication. SGII and ABM anticipate that subsequent events and developments will
cause their assessments to change. However, while SGII and ABM may elect to update these forward-looking statements at some point in the
future, SGII and ABM specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should
not be relied upon as representing SGII’s or ABM’s assessments as of any date subsequent to the date of this communication.
Accordingly, undue reliance should not be placed upon the forward-looking statements.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
SIGNATURE
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| Date: 07 November 2023 |
AMERICAN BATTERY MATERIALS, INC. |
| |
|
|
| |
BY: |
/s/ DAVID GRABER |
| |
|
David Graber, |
| |
|
Co-Chief Executive Officer |
Exhibit 99.1
American Battery Materials Announces Term Sheet
for Joint Venture and Stock Purchase with Xantippe Resources
Proposed Transactions Involve Forming Joint Ventures
for Lithium Extraction Projects in Argentina and Australia and Purchase of XTC Shares
Transaction Would Significantly Expand ABM’s
Asset Base and Meaningfully Diversify the Company’s Project Portfolio
GREENWICH, Conn., November 07, 2023 -- American Battery
Materials, Inc. (OTC Pink: BLTH) (“ABM”, the “Company”), an environmentally responsible minerals
exploration and development company focused on direct lithium extraction (DLE) and other critical minerals for the global energy transition,
today announced it has executed a Term Sheet for a series of transactions with Xantippe Resources Limited (ASX: XTC), an Australian-based
company poised to be a provider of sustainable, high purity battery grade lithium through development of its lithium brine projects in
Argentina and Australia.
Under the Term Sheet, the proposed transactions would
consist of the (1) formation of joint ventures for two separate lithium extraction projects; and, (2) purchase of a direct ownership interest
in XTC. The joint ventures between ABM and XTC will be formed for the development of a lithium brine project in Argentina (on land covering
over 21,900 hectares), and in Australia (for which Xantippe recently announced the completion of its maiden drilling program resulting
in highly encouraging potential for lithium bearing pegmatites of significant size). The Argentina project, expected to be developed first,
is located in the heart of Argentina’s “Lithium Triangle”
David Graber, Chairman and Co-Chief Executive Officer
of American Battery Materials, commented, “The proposed transactions represent a transformational opportunity for American Battery
Materials. The partnership with Xantippe will significantly expand our asset base and meaningfully diversify our project portfolio, a
critical component of our development strategy. We are excited to work with the Xantippe team. Their combination of recognized lithium
production experts, local knowledge, and proven track record of development expertise presents the perfect opportunity to increasingly
leverage synergies across the two companies. Like ABM, Xantippe owns exceptional mineral rights and land positions, is developing high-quality
projects with access to scalable, diversified, and rich sources of lithium brine. Moreover, both ABM and Xantippe are committed to deploying
direct lithium extraction technologies in the most efficient and environmentally responsible manner”.
“While closing is subject to completion of our
due diligence review and execution of definitive agreements, I am confident we will move to a successful closing. Looking forward, assuming
the closing with Xantippe and the closing of our previously-announced proposed business combination with Seaport Global Acquisition II
Corp., we believe American Battery Materials will be well positioned as a leading environmentally-responsible minerals exploration and
development company, with sustainable growth drivers and comparable differentiation.”
Proposed Business Combination
On June 2, 2023, ABM and Seaport Global Acquisition
II Corp. (NASDAQ: SGII) (“SGII”), a publicly-listed special purpose acquisition company, announced the signing of a definitive
merger agreement for a business combination (the “Proposed Business Combination”) that will result in ABM becoming a wholly-owned
subsidiary of SGII. The combined company is expected to be renamed “American Battery Materials Holdings”, and its common stock
and warrants are expected to be listed on the Nasdaq Global Market (“Nasdaq”).
About American Battery Materials, Inc.
American Battery Materials, Inc., (OTC Pink: BLTH),
is a U.S.-based environmentally responsible critical minerals exploration and development company focused on direct lithium extraction
(DLE) as well as other minerals for refining, processing, and distribution to support the country’s urgent critical minerals need
to bolster long-term energy transition and the electrification of the US domestic and global economy. For more information, visit www.americanbatterymaterials.com.
The information contained on, or that may be accessed through, this website is not incorporated by reference into, and is not a part of,
this communication.
To receive American Battery Materials, Inc. company
updates via email, visit the Contact page of our web site, www.americanbatterymaterials.com/contact.
About Xantippe Resources Limited
Xantippe Resources (ASX: XTC) aims to be a provider
of sustainable, high purity battery grade lithium, utilizing new technologies and leveraging strong local partnerships to develop its
Carachi lithium brine project in Argentina, located in the heart of the “Lithium Triangle” of Argentina.
About Seaport Global Acquisition II Corp.
Seaport Global Acquisition II Corp. is a blank check
company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. Although SGII’s efforts to identify a prospective business combination opportunity
will not be limited to a particular industry, it intends to focus on companies undergoing transformational, transitional, or reorganizational
business strategies.
Additional Information about the Proposed Business
Combination and Where to Find It
In connection with the Proposed Business Combination,
SGII has filed a Registration Statement on Form S-4 with the SEC on 22 September 2023, which includes a proxy statement/prospectus of
SGII (the “S-4”), as well as other documents filed with the SEC in connection with the Proposed Business Combination. Stockholders
of the Company can obtain copies of the S-4 and other documents filed with the SEC that will be incorporated by reference therein, without
charge, at the SEC’s website at www.sec.gov. Those materials will contain important information about ABM, SGII and the Proposed
Business Combination. The information contained on, or that may be accessed through, the websites referenced in this communication is
not incorporated by reference into, and is not a part of, this communication.
Participants in Solicitation
SGII and its respective directors and executive officers
may be deemed participants in the solicitation of proxies from SGII’s stockholders in connection with the Proposed Business Combination.
SGII’s and ABM’s stockholders and other interested persons may obtain, without charge, more detailed information regarding
the directors and officers of SGII and ABM in SGII’s Annual Report on Form 10-K filed with the SEC on April 4, 2023 and ABM’s
Annual Report on Form 10-K filed with the SEC on April 21, 2023. Information regarding the persons who may, under SEC rules, be deemed
participants in the solicitation of proxies to SGII stockholders in connection with the Proposed Business Combination will be set forth
in the proxy statement for the Proposed Business Combination when available. Additional information regarding the interests of participants
in the solicitation of proxies in connection with the Proposed Business Combination is included in the Form S-4 filed with the SEC.
Forward Looking Statements
This press release includes certain statements that
are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,”
“seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends
or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this
communication, regarding SGII’s Proposed Business Combination with ABM, SGII’s ability to consummate the transaction, the
benefits of the transaction and the combined company’s future financial performance, as well as the combined company’s strategy,
future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management
are forward-looking statements. These statements are based on various assumptions, whether or not identified in this communication, and
on the current expectations of the respective management of SGII and ABM and are not predictions of actual performance. These forward-looking
statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an
assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible
to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of SGII or ABM. Potential risks
and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements
include, but are not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; the inability
of the parties to successfully or timely consummate the business combination, including the risk that any regulatory approvals are not
obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits
of the business combination or that the approval of the stockholders of SGII or ABM is not obtained; failure to realize the anticipated
benefits of business combination; risk relating to the uncertainty of the projected financial information with respect to ABM; the amount
of redemption requests made by SGII’s stockholders; the overall level of consumer demand for lithium; general economic conditions
and other factors affecting; disruption and volatility in the global currency, capital, and credit markets; ABM’s ability to implement
its business and growth strategy; changes in governmental regulation, ABM’s exposure to litigation claims and other loss contingencies;
disruptions and other impacts to ABM’s business, as a result of the COVID-19 pandemic and government actions and restrictive measures
implemented in response, and as a result of the proposed transaction; ABM’s ability to comply with environmental regulations; competitive
pressures from many sources, including those, having more experience and better financing; changes in technology that adversely affect
demand for lithium compounds; the impact that global climate change trends may have on ABM and its potential mining operations; any breaches
of, or interruptions in, SGII’s or ABM’s information systems; fluctuations in the price, availability and quality of electricity
and other raw materials and contracted products as well as foreign currency fluctuations; changes in tax laws and liabilities, tariffs,
legal, regulatory, political and economic risks.
More information on potential factors that could affect
SGII’s or ABM’s financial results is included from time to time in SGII’s and ABM’s public reports filed with
the SEC, including their Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the S-4 SGII filed
with the SEC in connection with SGII’s solicitation of proxies for the meeting of stockholders to be held to approve, among other
things, the proposed business combination. If any of these risks materialize or SGII’s or ABM’s assumptions prove incorrect,
actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that
neither SGII nor ABM presently know, or that SGII and ABM currently believe are immaterial, that could also cause actual results to differ
from those contained in the forward-looking statements. In addition, forward-looking statements reflect SGII’s and ABM’s expectations,
plans or forecasts of future events and views as of the date of this communication. SGII and ABM anticipate that subsequent events and
developments will cause their assessments to change. However, while SGII and ABM may elect to update these forward-looking statements
at some point in the future, SGII and ABM specifically disclaim any obligation to do so, except as required by law. These forward-looking
statements should not be relied upon as representing SGII’s or ABM’s assessments as of any date subsequent to the date of
this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
No
Offer or Solicitation
This
communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any
sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification
under the securities laws of any such jurisdiction. This communication does not constitute a solicitation of a proxy, consent or authorization
with respect to any securities or in respect of the Proposed Business Combination. No offering of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended from time-to-time, or an exemption
therefrom.
Investor
Relations Contacts:
American
Battery Materials, Inc.
Investor
Relations
Email:
ir@americanbatterymaterials.com
Tel:
(800) 998-7962
or
MZ Group
Michael Kim
(737) 289-0835
ABM@mzgroup.us
BoxScore Brands (PK) (USOTC:BOXS)
Historical Stock Chart
From Apr 2024 to May 2024
BoxScore Brands (PK) (USOTC:BOXS)
Historical Stock Chart
From May 2023 to May 2024
