Piedmont Announces Pricing of Upsized Public Offering of Common Stock
NEW YORK, March 22, 2022–(Business enterprise WIRE)–Piedmont Lithium Inc. (“Piedmont” or the “Organization”) (Nasdaq:PLL ASX:PLL) right now declared the pricing of an upsized underwritten community offering of 1.75 million shares (“shares”) of its prevalent inventory (“Community Presenting”), at a rate for every share to the community of $65.00, for mixture gross proceeds of $113.75 million. Piedmont has granted the underwriters a 30-day alternative to order up to an further 262,500 shares at the problem selling price of the Community Presenting. The General public Featuring is anticipated to close on March 24, 2022, matter to customary closing ailments.
Piedmont intends to use the net proceeds from the providing to fund the Company’s share of the capital required to restart the operations at North American Lithium in Quebec, to fund exploration and definitive feasibility reports at Eyowaa in Ghana, to progress the Company’s merchant lithium hydroxide plant in the southeastern United States, and to proceed enhancement of the Carolina Lithium Undertaking, together with ongoing permitting pursuits, engineering structure, and residence acquisition. On top of that, the net proceeds may well be used to fund possible strategic initiatives and for basic corporate needs.
J.P. Morgan and Evercore ISI are acting as joint ebook-runners for the General public Providing. Canaccord Genuity, B. Riley Securities, BTIG, LLC, Clarksons Platou Securities, Inc., D.A. Davidson & Co., Jett Money Advisors LLC, Loop Money Marketplaces, Roth Capital Associates, ThinkEquity and Tuohy Brothers are acting as co-professionals for the General public Providing.
The Public Supplying is currently being built pursuant to an efficient shelf registration statement that has been submitted with the U.S. Securities and Trade Commission (the “SEC”). A closing prospectus supplement relevant to the Public Featuring will be filed with the SEC and made accessible on the SEC’s website at http://www.sec.gov and on the ASX web-site. Copies of the ultimate prospectus nutritional supplement, when offered, and the accompanying prospectus relating to the General public Providing may possibly be obtained from J.P. Morgan Securities LLC, c/o Broadridge Fiscal Answers, 1155 Very long Island Avenue, Edgewood, NY 11717, by phone at (866) 803-9204 or by e-mail at [email protected] and Evercore Team L.L.C., Awareness: Fairness Money Marketplaces, 55 East 52nd Street, 35th Flooring, New York, NY 10055, by phone at (888) 474-0200 or by e-mail at [email protected].
This push launch is not an provide or sale of the securities in the United States or in any other jurisdiction where by this sort of present or sale is prohibited, and this kind of securities may possibly not be presented or marketed in the United States absent registration or an exemption from registration beneath the Securities Act of 1933, as amended.
Ahead-Seeking Statements
This press launch contains “ahead-wanting statements” as outlined by the Personal Securities Litigation Reform Act of 1995 that require risks and uncertainties. In some scenarios, you can detect forward-looking statements by phrases these as “anticipate,” “imagine,” “anticipate,” “estimate,” “might,” “might,” “will,” “could,” “can,” “shall,” “should,” “would,” “top,” ” objective,” “intend,” “ponder,” “design,” “predict,” “probable,” “plan,” “goal” and very similar expressions are commonly meant to detect ahead-wanting statements. Ahead-hunting statements are subject matter to a assortment of acknowledged and unidentified challenges, uncertainties and other components which could induce real activities or effects to vary from people expressed or implied by the ahead-searching statements. These aspects consist of, amid other people, risks similar to: hazards relevant to whether or not the Company will near the Public Offering on the predicted phrases, or at all the anticipated use of the internet proceeds of the Community Giving the truth that the Company’s management will have wide discretion in the use of the proceeds from any sale of the shares the danger that anticipated ideas, development, production, revenues or prices are not attained the Company’s functions being more disrupted and the Company’s money success being adversely afflicted by public wellness threats, which includes the novel coronavirus pandemic the Company’s limited working history in the lithium market the Company’s standing as a growth stage corporation, which include the Company’s means to discover lithium mineralization and reach commercial lithium mining mining, exploration and mine construction, if warranted, on the Company’s properties, which includes timing and uncertainties similar to buying and retaining mining, exploration, environmental and other licenses, permits, accessibility rights or approvals in Gaston County, North Carolina, the Province of Quebec, Canada and Cape Coastline, Ghana as properly as houses that Piedmont may receive or attain an equity desire in the upcoming completing demanded permitting pursuits essential to begin processing functions for the LHP-2 Project the Company’s potential to realize and sustain profitability and to establish constructive funds flows from the Company’s processing functions the Company’s estimates of mineral reserves and methods and irrespective of whether mineral means will ever be made into mineral reserves financial investment danger and operational expenses linked with the Company’s exploration functions the Company’s potential to produce and attain production on the Company’s properties the Company’s capability to enter into and provide goods less than supply agreements the pace of adoption and charge of establishing electrical transportation and storage systems dependent upon lithium batteries the Company’s capability to obtain cash and the fiscal markets recruiting, instruction and developing staff attainable defects in title of the Company’s houses compliance with authorities polices environmental liabilities and reclamation charges estimates of and volatility in lithium rates or desire for lithium the Company’s widespread stock selling price and trading volume volatility the development of an active investing market place for the Company’s typical inventory the Company’s failure to efficiently execute its growth tactic, such as any delays in the Company’s prepared long run progress and other aspects established forth in the Company’s most new Changeover Report on Variety 10-KT and subsequent reports, as submitted with the SEC.
All forward-wanting statements reflect Piedmont’s beliefs and assumptions primarily based on information and facts obtainable at the time the assumption was created. These ahead-seeking statements are not dependent on historic specifics but rather on management’s anticipations relating to upcoming things to do, results of functions, performance, long run cash and other expenses, which includes the sum, nature and sources of funding thereof, competitive pros, company potential customers and opportunities. By its character, forward-wanting info will involve many assumptions, inherent risks and uncertainties, both equally typical and unique, known and not known, that add to the risk that the predictions, forecasts, projections or other ahead-searching statements will not occur. Though Piedmont has tried to discover essential elemen
ts that could induce real effects to differ materially from those people described in forward-searching statements, there may perhaps be other things that lead to effects not to be as anticipated, believed or supposed. Must just one or more of these pitfalls or uncertainties materialize, or ought to fundamental assumptions confirm incorrect, actual effects could vary materially from individuals predicted, thought, believed, or expected. Piedmont cautions readers not to area undue reliance on any this sort of forward-wanting statements, which talk only as of the day designed. Besides as if not necessary by the securities legal guidelines of the United States, Piedmont disclaims any obligation to subsequently revise any ahead-searching statements to reflect occasions or situation immediately after the day of these statements or to mirror the event of anticipated or unanticipated activities. Piedmont qualifies all the forward-seeking statements contained in this release by the foregoing cautionary statements.
About Piedmont Lithium
Piedmont Lithium is acquiring a planet-class, multi-asset, built-in lithium organization centered on enabling the changeover to a web zero environment and the development of a clear energy economic system in North The us. The centerpiece of our functions, located in the renowned Carolina Tin Spodumene Belt of North Carolina, when combined with equally strategic and in-need mineral sources, and creation assets in Quebec, and Ghana, positions us to be a single of the largest, cheapest charge, most sustainable producers of battery-grade lithium hydroxide in the earth. We will also be strategically positioned to finest provide the quickly-increasing North American electrical auto supply chain. The exclusive geology, geography and proximity of our sources, manufacturing operations and buyer foundation, will allow for us to deliver precious continuity of offer of a superior-high-quality, sustainably made lithium hydroxide from spodumene concentrate, chosen by most EV manufacturers. Our prepared diversified operations really should allow us to perform a pivotal role in supporting America’s move towards decarbonization and the electrification of transportation and strength storage. As a member of businesses like the Intercontinental Accountable Mining Affiliation, and the Zero Emissions Transportation Affiliation, we are dedicated to guarding and preserving our planet for long term generations, and to building financial and social contributions to the communities we serve.
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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]