Piedmont Announces Closing of Public Offering of Common Stock
NEW YORK, March 24, 2022–(Company WIRE)–Piedmont Lithium Inc. (“Piedmont” or the “Firm”) (Nasdaq:PLL ASX:PLL) right now introduced the closing of its beforehand declared underwritten community offering of 2.01 million shares (“shares”) of its frequent inventory, which consists of the whole workout of the underwriters’ selection to purchase 262,500 shares (“Public Providing”). The aggregate gross proceeds of the Public Providing, right before underwriting bargains and commissions, totaled $130.8 million.
Piedmont intends to use the internet proceeds from the supplying to fund the Company’s share of the capital demanded to restart the operations at North American Lithium in Quebec, to fund exploration and definitive feasibility experiments at Eyowaa in Ghana, to advance the Company’s merchant lithium hydroxide plant in the southeastern United States, and to go on development of the Carolina Lithium Project, which includes ongoing permitting things to do, engineering design, and property acquisition. In addition, the internet proceeds could be applied to fund possible strategic initiatives and for basic company purposes.
J.P. Morgan and Evercore ISI acted as joint book-runners for the Community Featuring. Canaccord Genuity, B. Riley Securities, BTIG, LLC, Clarksons Platou Securities, Inc., D.A. Davidson & Co., Jett Money Advisors LLC, Loop Cash Marketplaces, Roth Cash Associates, ThinkEquity and Tuohy Brothers acted as co-supervisors for the Community Providing.
The Community Presenting was created pursuant to an efficient shelf registration statement that has been submitted with the U.S. Securities and Trade Commission (the “SEC”). A last prospectus dietary supplement related to the Community Providing has been filed with the SEC and is accessible on the SEC’s website at http://www.sec.gov and on the ASX web page. Copies of the closing prospectus dietary supplement and the accompanying prospectus relating to the Public Providing may perhaps be attained from J.P. Morgan Securities LLC, c/o Broadridge Economical Remedies, 1155 Extended Island Avenue, Edgewood, NY 11717, by phone at (866) 803-9204 or by e-mail at [email protected] and Evercore Team L.L.C., Attention: Fairness Funds Marketplaces, 55 East 52nd Road, 35th Flooring, New York, NY 10055, by telephone at (888) 474-0200 or by e-mail at [email protected].
This push launch is not an give or sale of the securities in the United States or in any other jurisdiction wherever these offer or sale is prohibited, and these securities may possibly not be offered or offered in the United States absent registration or an exemption from registration less than the Securities Act of 1933, as amended.
Ahead-Seeking Statements
This press release includes “ahead-hunting statements” as described by the Non-public Securities Litigation Reform Act of 1995 that involve dangers and uncertainties. In some scenarios, you can determine forward-seeking statements by terms this kind of as “foresee,” “imagine,” “assume,” “estimate,” “may possibly,” “may possibly,” “will,” “could,” “can,” “shall,” “should,” “would,” “leading,” ” aim,” “intend,” “ponder,” “design,” “forecast,” “probable,” “system,” “goal” and related expressions are frequently supposed to recognize forward-wanting statements. Ahead-hunting statements are subject to a wide range of recognised and unknown threats, uncertainties and other components which could induce real situations or success to differ from all those expressed or implied by the forward-looking statements. These types of components contain, between some others, pitfalls linked to: the expected use of the internet proceeds of the General public Presenting the fact that the Company’s management will have broad discretion in the use of the proceeds from the sale of the shares the hazard that anticipated ideas, advancement, output, revenues or expenditures are not attained the Company’s operations currently being further disrupted and the Company’s monetary benefits getting adversely influenced by public wellbeing threats, which includes the novel coronavirus pandemic the Company’s constrained functioning record in the lithium business the Company’s position as a progress stage company, including the Company’s capability to discover lithium mineralization and attain professional lithium mining mining, exploration and mine design, if warranted, on the Company’s houses, including timing and uncertainties associated to obtaining and retaining mining, exploration, environmental and other licenses, permits, access rights or approvals in Gaston County, North Carolina, the Province of Quebec, Canada and Cape Coastline, Ghana as nicely as homes that Piedmont may perhaps get or attain an fairness curiosity in the future completing necessary allowing things to do expected to commence processing operations for the LHP-2 Challenge the Company’s means to reach and manage profitability and to create optimistic funds flows from the Company’s processing pursuits the Company’s estimates of mineral reserves and sources and regardless of whether mineral resources will ever be made into mineral reserves expenditure chance and operational fees affiliated with the Company’s exploration functions the Company’s potential to create and attain creation on the Company’s properties the Company’s capability to enter into and produce merchandise less than offer agreements the speed of adoption and cost of building electric transportation and storage technologies dependent upon lithium batteries the Company’s capability to obtain funds and the financial markets recruiting, education and acquiring workforce achievable flaws in title of the Company’s houses compliance with government laws environmental liabilities and reclamation fees estimates of and volatility in lithium charges or desire for lithium the Company’s typical inventory selling price and buying and selling quantity volatility the improvement of an energetic buying and selling market place for the Company’s common inventory the Company’s failure to efficiently execute its advancement approach, which includes any delays in the Company’s prepared future progress and other variables set forth in the Company’s most new Transition Report on Type 10-KT and subsequent stories, as filed with the SEC.
All ahead-hunting statements mirror Piedmont’s beliefs and assumptions dependent on info available at the time the assumption was manufactured. These forward-wanting statements are not based on historic points but somewhat on management’s expectations pertaining to long run things to do, effects of functions, performance, upcoming money and other expenses, such as the sum, character and resources of funding thereof, aggressive benefits, company prospective clients and chances. By its character, ahead-looking details entails quite a few assumptions, inherent dangers and uncertainties, both equally general and certain, identified and unidentified, that contribute to the possibility that the predictions, forecasts, projections or other forward-seeking statements will not manifest. Even though Piedmont has attempted to discover vital components that could lead to real final results to differ materially from all those explained in forward-searching statements, there may be other aspects that induce success not to be as predicted, approximated or meant. Need to just one or a lot more of these cha
llenges or uncertainties materialize, or should really fundamental assumptions confirm incorrect, precise benefits may well vary materially from people predicted, believed, estimated, or anticipated. Piedmont cautions readers not to place undue reliance on any this kind of forward-on the lookout statements, which discuss only as of the date designed. Other than as normally necessary by the securities guidelines of the United States, Piedmont disclaims any obligation to subsequently revise any forward-seeking statements to reflect events or instances soon after the day of these kinds of statements or to mirror the incidence of expected or unanticipated events. Piedmont qualifies all the ahead-wanting statements contained in this release by the foregoing cautionary statements.
About Piedmont Lithium
Piedmont Lithium is building a globe-class, multi-asset, built-in lithium business enterprise focused on enabling the changeover to a internet zero entire world and the generation of a clean strength economic climate in North The us. The centerpiece of our functions, located in the renowned Carolina Tin Spodumene Belt of North Carolina, when mixed with equally strategic and in-demand from customers mineral resources, and production property in Quebec, and Ghana, positions us to be a single of the largest, lowest expense, most sustainable producers of battery-quality lithium hydroxide in the entire world. We will also be strategically positioned to finest provide the fast-expanding North American electric vehicle supply chain. The exceptional geology, geography and proximity of our resources, output functions and client base, will make it possible for us to supply worthwhile continuity of offer of a superior-good quality, sustainably manufactured lithium hydroxide from spodumene focus, chosen by most EV producers. Our prepared diversified functions must enable us to enjoy a pivotal position in supporting America’s shift towards decarbonization and the electrification of transportation and energy storage. As a member of companies like the Worldwide Responsible Mining Association, and the Zero Emissions Transportation Affiliation, we are dedicated to guarding and preserving our world for long term generations, and to producing economic and social contributions to the communities we serve.
Perspective resource edition on businesswire.com: https://www.businesswire.com/news/house/20220324005813/en/
Contacts
Keith Phillips
President & CEO
T: +1 973 809 0505
E: [email protected]
Patrick Brindle
EVP – Chief Operating Officer
T: +1 412 818 0376
E: [email protected]