Company: JUPGF
Filing Date: 2025-07-25
Form Type: DRS/A
Source: 0001641172-25-021053
Chunk: 48

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-07-25
Form: DRS/A
Chunk 48
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 (decrease) the pro forma net tangible book value per share by approximately $[●], or approximately $[●] per share, assuming the assumed underwritten offering price remains the same, after deducting underwriting discounts and commissions and estimated offering expenses payable by us.

If the underwriters exercise their option to purchase additional shares of common stock in full in this offering, the net tangible book value after this offering would be approximately $[●], or approximately $[●] per share, the increase in net tangible book value to existing stockholders would be $[●] per share, and the dilution per share to new investors would be $[●] per share, in each case based on an assumed underwritten offering price of $[●] per share, which is the midpoint of the estimated public offering price range set forth on the cover page of this prospectus.

The number of shares of our common stock outstanding after the completion of this offering is based on [●] shares of our common stock outstanding as of December 31, 2024, and excludes the following:

| ● | 236,667                                                                                                                     
 shares of common stock issuable upon the exercise                                                                           
 of outstanding options with a weighted average exercise price of $0.93 per share and weighted average time to expiration of 
 1.85 years;                                                                                                                 |
| ● | 800,000                                                                                                                     
 shares of common stock reserved for the future                                                                              
 issuance of awards under our 2016 Stock Incentive Plan; and                                                                 |
| ● | one                                                                                                                         
 share of common stock issuable upon the conversion of our outstanding Series A Preferred.                                   |

| 34 |

<div align='center'>MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

The following discussion of our financial condition and results of operations should be read in conjunction with our audited consolidated financial statements and the notes to those financial statements appearing elsewhere in this prospectus.

This prospectus contains forward-looking statements. Forward-looking statements for Atlas Critical Minerals reflect current expectations, as of the date of this prospectus, and involve certain risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include, among others: unprofitable efforts resulting not only from the failure to discover mineral deposits, but also from finding mineral deposits that, though present, are insufficient