Company: JUPGF
Filing Date: 2025-08-27
Form Type: DRS/A
Source: 0001493152-25-012379
Chunk: 44

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-27
Form: DRS/A
Chunk 44
---
 which is the midpoint of the estimated public offering price range set forth on the cover page of this prospectus, would increase (decrease) the pro forma net tangible book value per share by approximately $[●], or by approximately $[●] per share, assuming the number of shares of common stock offered by us, as set forth on the cover page of this prospectus, remains the same, after deducting underwriting discounts and commissions and estimated offering expenses payable by us. Similarly, each 10% increase (decrease) in the number of shares offered by us would increase (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:

| ● | 101,676 shares of common stock issuable upon the exercise of outstanding                                                 
 options with a weighted average exercise price of $2.16 per share and weighted average time to expiration of 3.48 years; |
| ● | 80,000 shares of common stock reserved for the future issuance of                                                        
 awards under our 2016 Stock Incentive Plan;                                                                              |
| ● | 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