Battery metals miner Atlas Lithium (ATLX) (OTCQB:ATLXD) uplisted its stock to Nasdaq and raised $4M after pricing shares below its previously stated range.f
Shares of Atlas opened at $6.75 after being priced at $6 per share. The stock recently changed hands at $6.72 at approximately 11:00 a.m. ET. It closed at $8.10 on Monday, according to Yahoo Finance data.
Atlas priced 675K shares at $6 per share, raising $4M. Underwriters received a 45-day option to buy up to 101K additional shares. EF Hutton is serving as sole bookrunner.
In a November filing, Atlas said was looking to offer 650K shares priced between $8 and $10, which would have raised around $6M if priced at the midpoint.
Based in California, Atlas is a development-stage company engaged in the exploration and mining of battery metals such as nickel, rare earths, graphite and titanium. The company is currently developing a lithium mining and processing operation in Minas Gerais, Brazil to serve the EV battery industry.
The company’s shares were traded OTC under the symbol ATLXD. Atlas conducted a 1-for-750 reverse stock split ahead of the offering.