Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) plans to conduct a public offering of 1.5 million shares of its common stock, subject to market and other conditions.
The company intends to use the proceeds from the offering to fund a number of projects including:
- Restarting operations at North American Lithium in Quebec;
- Fund exploration and definitive feasibility studies at Eyowaa in Ghana;
- Advance the company’s merchant lithium hydroxide plant in the southeastern United States; and
- Continue development of the Carolina Lithium Project in the US, including ongoing permitting, engineering design and property acquisition.
The proceeds may also be used to fund possible strategic initiatives and for general corporate purposes.
JP Morgan and Evercore ISI are acting as joint book-runners and lead underwriters for the public offering.
Piedmont intends to grant the underwriters a 30-day option to purchase up to 225,000 shares at the issue price of the public offering.
- By Duncan Bailey