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AMERICAN BATTERY MATERIALS, INC.·4

May 12, 4:05 PM ET

VORWERK JUSTIN J 4

Research Summary

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Updated

American Battery Materials (BLTH) Director Justin Vorwerk Acquires Shares

What Happened

  • Justin J. Vorwerk, a director of American Battery Materials, acquired 20,875 common shares on March 17, 2026 at $3.75 each (total $78,281). These shares were issued as consideration for extending the maturity of convertible notes (footnote F1).
  • The Form 4 also reports two earlier derivative-related acquisitions: one reported from 3/22/2024 with a notional value of $343,174 and one from 2/10/2025 with a notional value of $14,974 (each reported as “1” share in the filing). These reflect convertible-note related transactions, not routine open-market purchases.

Key Details

  • Transaction dates and amounts:
    • 2026-03-17: 20,875 shares @ $3.75 each = $78,281 (code J — other acquisition for note-extension consideration; F1).
    • 2024-03-22: reported as 1 derivative share @ $343,174 = $343,174 (convertible note originally issued 3/22/2024; see F2).
    • 2025-02-10: reported as 1 derivative share @ $14,974 = $14,974 (convertible note originally issued 2/10/2025; see F3).
  • Footnotes of note:
    • F1: Shares issued to extend maturity of convertible notes.
    • F2: 3/22/2024 convertible note originally $138,084, now $343,174 after MFN adjustment and extensions; convertible at a 35% discount to a future uplist price (price expected $6.00/share).
    • F3: 2/10/2025 convertible note originally $10,000, now $14,974 after extensions; also convertible at a 35% discount to a future uplist price (price expected $6.00/share).
  • Shares owned after the transactions: not specified in the provided filing excerpt.
  • Filing timeliness: The Form 4 was filed on May 12, 2026 for a March 17, 2026 transaction, which appears to be a late filing (Form 4s are typically due within two business days of the transaction).

Context

  • These transactions are primarily debt-related conversions/extensions rather than open-market purchases — the 20,875-share issuance compensated noteholders for extending maturities, and the other entries reflect convertible-note positions (derivative reporting). Such issuances are common when companies renegotiate note terms and do not necessarily reflect an insider's independent buy/sell decision.