Piedmont Lithium (NASDAQ:PLL) and Sayona Mining to combine the two companies to create a leading lithium business, resulting in Sayona being the ultimate parent entity.
The transaction will result in an approximate 50% / 50% equity holding of shareholders of Piedmont and Sayon in MergeCo immediately following the closing of the transaction.
Piedmont will be undertaking a proposed capital raise of ~$27M. Sayona is undertaking a capital raise of A$40M (~$27 million7M).
The equity raisings, aggregating to ~$99M, plan to ensure MergeCo is well positioned to accelerate growth within its enlarged portfolio.
The closing is expected in the first half of CY2025.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.