UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 29, 2023

 

AEMETIS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-36475

 

26-1407544

(State or Other Jurisdiction

 of Incorporation)

 

(Commission

 File Number)

 

(I.R.S. Employer

 Identification No.)

 

20400 Stevens Creek Blvd., Suite 700

Cupertino, California 95014

(Address of Principal Executive Office) (Zip Code)

 

(408) 213-0940

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Title of class of registered securities

 

Ticker Symbol

 

Name of exchange on which registered

Common Stock, par value $0.001 per share

 

AMTX

 

NASDAQ

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

Aemetis, Inc. (“Aemetis”) and its subsidiary Aemetis Biogas LLC (“ABL”) entered into a Federal Renewable Energy Investment Tax Credit Purchase and Sale Agreement, effective as of September 29, 2023 (the “Agreement”). Pursuant to the Agreement, ABL sold U.S. federal tax credits to a purchaser pursuant to the Internal Revenue Code (“IRC”), in exchange for a single fixed payment to be paid by the purchaser to ABL within five business days of the Agreement, which is October 6, 2023. The purchaser is a company with no relation to Aemetis or ABL other than the Agreement.

 

ABL is entitled to the tax credits pursuant to IRC Section 48 based on ABL’s investments in “qualified biogas property,” as defined in Section 48, made by ABL prior to the date of the Agreement. The credits have been assigned to the purchaser pursuant to IRC Section 6418.

 

Aemetis issued a press release on October 2, 2023 related to the Agreement, a copy of which is furnished as an attachment to this Form 8-K.

 

Item 9.01 Exhibits.

 

Exhibit

Number

 

Description of the Exhibit

 

 

 

99.1 

 

Press Release announcing Aemetis Biogas closing of $53 million  sale of IRA Tax Credits

 

 

2

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Aemetis, Inc.

 

 

 

 

 

October 5, 2023

By: 

/s/ Eric A. McAfee

 

 

 

Eric A. McAfee

 

 

 

Chairman/Chief Executive Officer

 

 

 

3

 

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Cover
Sep. 29, 2023
Cover [Abstract]  
Entity Registrant Name AEMETIS, INC.
Entity Central Index Key 0000738214
Document Type 8-K
Amendment Flag false
Entity Emerging Growth Company false
Document Period End Date Sep. 29, 2023
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Entity Incorporation State Country Code DE
Entity File Number 001-36475
Entity Tax Identification Number 26-1407544
Entity Address Address Line 1 20400 Stevens Creek Blvd
Entity Address Address Line 2 Suite 700
Entity Address City Or Town Cupertino
Entity Address State Or Province CA
Entity Address Postal Zip Code 95014
City Area Code 408
Local Phone Number 213-0940
Security 12b Title Common Stock
Trading Symbol AMTX
Security Exchange Name NASDAQ
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