- Piedmont Lithium (PLL) has proposed a U.S. public offering of up to 1.5 million of its American depository shares (ADSs)
- Each ADS represents 100 of its ordinary shares
- J.P Morgan, Evercore ISI and Canaccord Genuity will act as joint book-runners and lead underwriters for the offer
- PPL intends to grant the underwriters a 30-day option to purchase up to 225,000 additional ADSs at the issue price
- Piedmont will use the proceeds generated by the offering to continue developing the company’s Piedmont Lithium Project
- Piedmont shares are in a trading halt and were last priced at $1.06 each
Piedmont Lithium (PLL) has proposed a U.S. public offering, subject to market and other conditions, of up to 1.5 million of its American depository shares (ADSs), with each ADS representing 100 of its ordinary shares.
J.P Morgan, Evercore ISI and Canaccord Genuity will act as the joint book-runners and lead underwriters for the offer.
PPL intends to grant the underwriters a 30-day option to purchase up to 225,000 additional ADSs at the offering’s issue price.
Piedmont will use the proceeds generated by the offering for strategic initiatives, general corporate purposes and to continue developing the company’s Piedmont Lithium Project.
This will include definitive feasibility studies, test work, permitting, further exploration drilling, mineral resource estimate updates and ongoing land consolidation, to fund previously announced strategic investments in Sayona Mining (SYA) and Sayona Quebec.
The offering will be made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission.
Piedmont shares are in a trading halt and were last priced at $1.06 each.