Blue Moon’s Warrant carries ownership limits that can be adjusted at the holder’s election, subject to a stated ceiling under the agreement.

Elmet Group Co. agreed to issue Blue Moon Metals Inc. a warrant covering up to 1,166,970 common shares at an exercise price of $21.423 per share. The arrangement gives investors defined terms for potential Equity issuance, including an ownership limit that may be adjusted up to 19.99%.

Key Highlights

  • Elmet Group agreed to issue and sell Blue Moon a warrant to purchase up to 1,166,970 common shares.
  • The warrant has an exercise price of $21.423 per share and expires on September 21, 2029.
  • Exercise is subject to beneficial ownership limits, initially set at 4.99% and adjustable up to 19.99%.

Elmet Group Co. (NASDAQ: ELMT) is a metal fabrication company. The company agreed to issue Blue Moon Metals Inc. (NASDAQ: BMM) a warrant covering up to 1,166,970 shares of its common stock at an exercise price of $21.423 per share. The warrant was issued in connection with Blue Moon’s entry into a prior letter agreement and its agreement to perform related obligations, including an Investment contemplated by that arrangement.

Warrant Terms

The warrant’s original Issue Date is September 21, 2026, and it may be exercised on or after the initial exercise date specified in its terms through September 21, 2029. The exercise price can be adjusted under the warrant’s provisions. Elmet Group Co. and Blue Moon also agreed to provide customary indemnification to one another under the purchase agreement. The warrant can be exercised without cash when an effective registration statement for resale is unavailable. Beneficial ownership restrictions initially prevent exercise that would place Blue Moon and its affiliates above 4.99% of outstanding common stock after exercise, although the holder may elect to raise or lower that threshold up to 19.99%.