Business Context and Reporting Period
This Form 8-K is filed by American Battery Technology Company (ABAT) for the reporting period ending October 9, 2025. The Company is a Nevada corporation focused on the design, construction, and operation of a commercial-scale facility for manufacturing battery cathode grade lithium hydroxide at its Tonopah Lithium Flats Project (TFLP).
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, or cash flow data. Specific financial figures disclosed include:
- Grant Termination Impact: Approximately $52 million in reimbursable DOE funds remained on the Assistance Agreement as of October 9, 2025.
- Capital Raised: The Company has raised over $52 million from public markets year-to-date.
- Original Grant Value: The terminated Assistance Agreement (DE-MS0000010) was originally valued at $115,489,662, with a 50/50 cost share between the DOE and the Company.
Material Changes
The primary material change reported is the termination of a Material Definitive Agreement:
- DOE Grant Termination: The U.S. Department of Energy (DOE) terminated the Assistance Agreement effective August 31, 2025, following an audit process regarding federal stewardship terms.
- Appeal Filed: On October 10, 2025, the Company submitted an appeal of the termination and intends to pursue dispute resolution remedies.
- Project Continuity: Management stated the Company intends to proceed with the project without impact to timeline or scope, utilizing funds raised from public markets to replace the DOE cost share.
Guidance, Outlook, and Governance Changes
Outlook and Risks:
- The Company maintains its commitment to the TFLP project despite the grant termination.
- The TFLP has been designated a "Transparency Priority Project" by the National Energy Dominance Council and U.S. Federal Permitting Council, highlighting its role in domestic critical mineral production.
- Risk exists regarding the outcome of the appeal process against the DOE, though management asserts the project timeline will not be affected.
Governance Amendments:
- Bylaws: On October 14, 2025, the Board approved amendments to the Amended and Restated Bylaws, clarifying proxy voting procedures, director compensation for employee-directors, and the voting standard for removing directors.
- Code of Conduct: The Board also approved amendments to the Board Directors Code of Conduct on October 14, 2025.
Investor Verification Checklist
- Verify the status of the appeal filed against the DOE regarding the $52 million grant termination.
- Confirm the sufficiency of the $52 million raised from public markets to fully fund the Company's share of the project costs.
- Monitor the "Transparency Priority Project" designation for any updates on permitting timelines via the FAST-41 Dashboard.
- Review the full text of the Amended and Restated Bylaws (Exhibit 3.1) for specific changes to director removal standards.