Atlas Lithium, a battery metal exploration and mining company with properties in Brazil, raised $4 million by offering 0.7 million shares at $6, below the range of $8 to $10, and below its last close on the OTC ($8.10). The company offered 25k more shares than anticipated.
Because the offering raised less than $5 million, Atlas Lithium will be excluded from Renaissance Capital's 2023 IPO stats.
Formerly known as Brazil Minerals, Atlas Lithium is a US mineral exploration and mining company with projects and properties in essentially all battery metals, including lithium, rare earths, nickel, cobalt, graphite, and titanium. All of its mineral projects and properties are located in Brazil. The company has generated a small amount of revenue from the sales of gold and diamonds, though it has not realized any revenues to date from the sale of strategic minerals and battery metals or iron.
Atlas Lithium plans to list on the Nasdaq under the symbol ATLX. EF Hutton acted as sole bookrunner on the deal.
