IPO - Bitech Technologies Corp

Form Type: S-1/A

Filing Date: 2025-01-22

Corporate Action: Ipo

Type: Update

Accession Number: 000149315225003206

Filing Summary: Bitech Technologies Corporation is initiating a public offering of shares of common stock and Pre-Funded Warrants, aiming to raise capital for its renewable energy projects. The offering includes a proposed reverse stock split to optimize share price and avoid ownership caps that would restrict large investors. The company acquired a portfolio of 23 Battery Energy Storage System (BESS) projects and 13 solar energy projects with substantial generation capacities. Its objective is to facilitate the clean energy transition by providing energy storage solutions that stabilize the grid, particularly during peak demand periods, thus enhancing efficiency in the energy market. The management emphasizes the critical role of BESS in managing renewable energy integration and addressing supply-demand imbalances. There are associated risks highlighted, which investors should consider before engaging with the securities. The offering is underwritten on a firm commitment basis, with an option for underwriters to purchase additional shares for over-allotments, noting that the date of share delivery is expected shortly after the completion of the offering.

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