Bitech Technologies Corp
Filed Jul 3, 2024.
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A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Jul 3, 2024
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As filed with the Securities and Exchange Commission on July 2, 2024
Registration No. 333-[_______]
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMS-1
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
(Exact Name of Registrant as Specified in Its Charter)
| Delaware | 3690 | 93-3419812 |
|---|---|---|
| (State or Other Jurisdiction of Incorporation or Organization) | (Primary Standard Industrial Classification Code Number) | (I.R.S. Employer Identification Number) |
895 Dove Street, Suite 300
Newport Beach, CA 92660
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Telephone:(855) 777-0888
(Registrant’s telephone number, including area code)
**The Company Corporation **
251 Little Falls Drive
Wilmington, Delaware 19808
Telephone:(302) 636-5440
(Name, address, including zip code, and telephone number, including area code, of agent for service)
With a Copy to:
| Peter Campitiello, Esq. Lauren P. Mauro, Esq. McCarter & English, LLP Two Tower Center Blvd. East Brunswick, New Jersey 08816 (732) 867-9741 | Gregory Sichenzia, Esq. Marcelle S. Balcombe, Esq. Sichenzia Ross Ference Carmel LLP 1185 Avenue of the Americas, 31st Floor New York, NY 10036 (212) 930-9700 |
|---|
Approximate date of commencement of proposed sale to the public: Promptly after the effective date of this registration statement.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box. ☐
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☐ | ||
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to such Section 8(a), may determine.
The information contained in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
| PRELIMINARY PROSPECTUS | SUBJECT TO COMPLETION | DATED JULY 2, 2024 |
|---|
** Shares of Common Stock**
** Pre-Funded Warrants to purchase up to Shares of Common Stock**
Bitech Technologies Corporation
We are offering shares of common stock, par value $0.001 per share, at an assumed offering price of $ per share of common stock. The assumed offering price is based on the last reported closing trading price of our common stock on the OTC Markets on , 2024.
We are also offering to each purchaser whose purchase of common stock in this offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the holder, 9.99%) of our outstanding common stock immediately following the consummation of this offering, the opportunity to purchase, if the purchaser so chooses, pre-funded warrants to purchase common shares (the “Pre-Funded Warrants”), in lieu of common stock. The purchase price of each Pre-Funded Warrant is equal to the price per common stock being sold to the public in this offering, minus US$0.001. The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. For each Pre-Funded Warrant we sell, the number of common stock that we are offering will be decreased on a one-for-one basis.
Our common stock is traded on the OTC Markets under the symbol “BTTC”. We intend to apply for the listing of our common stock on the , or the , under the symbol “ ”. On June 28, 2024, the latest reported sale price of our common stock on the OTC Markets was $0.075 per share. We do not intend to apply to list the Pre-Funded Warrants on any securities exchange or nationally recognized trading system.
Investing in our securities involves a high degree of risks, including the risk of losing your entire investment. See “Risk Factors” beginning on page 9 to read about factors you should consider before buying our securities.
Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.
| Per Share of Common Stock | Per Pre-Funded Warrant | Total | |||
| Price to the public | $ | $ | $ | ||
|---|---|---|---|---|---|
| Underwriting discounts and commissions(1) | $ | $ | $ | ||
| Proceeds to us before expenses | $ | $ | $ |
| (1) | Underwriting discounts and commissions do not include a non-accountable expense allowance equal to 1.0% of the initial public offering price payable to the underwriters. We refer you to “Underwriting” beginning on page 57 for additional information regarding underwriters’ compensation. |
The offering is being underwritten on a firm commitment basis. We have granted a 45-day option to the representative of the underwriters to purchase up to additional shares of common stock and/or Pre-Funded Warrants solely to cover over-allotments, if any.
The underwriters expect to deliver the securities to purchasers on or about , 2024.
ThinkEquity
The date of this prospectus is , 2024
TABLE OF CONTENTS
| Page | |
|---|---|
| SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS | 1 |
| PROSPECTUS SUMMARY | 2 |
| THE OFFERING | 6 |
| SELECTED FINANCIAL DATA | 8 |
| RISK FACTORS | 9 |
| USE OF PROCEEDS | 25 |
| DIVIDEND POLICY | 26 |
| CAPITALIZATION | 27 |
| DILUTION | 28 |
| MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 29 |
| BUSINESS | 34 |
| MANAGEMENT | 41 |
| EXECUTIVE AND DIRECTOR COMPENSATION | 44 |
| PRINCIPAL STOCKHOLDERS | 48 |
| CERTAIN RELATIONSHIPS AND RELATED PARTY | 49 |
| DESCRIPTION OF SECURITIES WE ARE OFFERING | 49 |
| SHARES ELIGIBLE FOR FUTURE SALE | 52 |
| MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS | 53 |
| UNDERWRITING | 57 |
| LEGAL MATTERS | 61 |
| EXPERTS | 61 |
| WHERE YOU CAN FIND ADDITIONAL INFORMATION | 62 |
| INDEX TO CONSOLIDATED FINANCIAL STATEMENTS | F-1 |
| OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION | II-1 |
You should rely only on the information contained in this prospectus. We and the underwriter(s) have not authorized anyone to provide you with any information other than that contained in this prospectus, and neither we, nor the underwriter(s) take responsibility for any other information others may give you. We are offering to sell, and seeking offers to buy, common stock and Pre-Funded warrants only in jurisdictions where such offers and sales are permitted. The information in this prospectus is accurate only as of its date, regardless of its time of delivery or the time of any sale of common stock and Pre-Funded warrants. Our business, financial condition, results of operations and prospects may have changed since that date.
i
About this Prospectus
Neither nor the Underwriter have not authorized anyone to provide any information or to make any representations other than those contained in this prospectus or in any free writing prospectuses prepared by us or on our behalf or to which we have referred you and which we have filed with the U.S. Securities and Exchange Commission (the “SEC”). We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the common stock and Pre-Funded warrants shares offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. We are not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted or where the person making the offer or sale is not qualified to do so or to any person to whom it is not permitted to make such offer or sale. The information contained in this prospectus is current only as of the date on the front cover of the prospectus. Our business, financial condition, results of operations and prospects may have changed since that date.
Market and Industry Data. This prospectus contains estimates and other statistical data made by independent parties relating to our industry and the markets in which we operate, including estimates and statistical data about our market position, market opportunity, and other industry data. These data, to the extent they contain estimates or projections, involve a number of assumptions and limitations and are inherently imprecise, and you are cautioned not to give undue weight to such estimates or projections. Based on our industry experience, we believe that such data is reliable, the conclusions contained in the publications and reports are reasonable and the third-party information included in this prospectus and in our estimates is accurate and complete.
For investors outside the United States: Neither we nor the underwriters have done anything that would permit this offering or possession or distribution of this prospectus or any free writing prospectus we may provide to you in connection with this offering in any jurisdiction where action for that purpose is required, other than in the United States. You are required to inform yourselves about and to observe any restrictions relating to this offering and the distribution of this prospectus and any such free writing prospectus outside the United States.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.