Jul. 1 at 11:29 AM
$ATLX
Here is the actual language from Atlas’s SEC filings regarding the prepayments:
“Each of the buyers agreed to pre-pay to the Company
$20.0 million (each, a ‘Pre-Payment Amount’) for future deliveries of the Product after the Company obtains customary licenses. Each Pre-Payment Amount will be used to offset against such buyer’s future payment obligations for the Product.”
https://cdn.kscope.io/73e28af98d08feeb330b85e4ae7bdec3.pdf?utm_source=chatgpt.com
Atlas reiterated similar language in its annual filings:
“…the buyers agreed, subject to obtaining permits, to invest an additional
$20 million as offtake pre-payment for future deliveries of the lithium concentrate after we obtain customary licenses.”
https://www.sec.gov/Archives/edgar/data/1540684/000149315225010384/form10-k.htm?utm_source=chatgpt.com