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Piedmont Lithium (ASX:PLL) - Managing Director & CEO, Keith D Phillips (centre)
Managing Director & CEO, Keith D Phillips (centre)
Source: Gaston Gazette
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  • Piedmont Lithium (PLL) has released the details of the U.S. public offering it announced yesterday
  • The dual ASX- and NASDAQ-listed lithium company will raise US$122.5 million (approximately A$159.1 million) via the issue of 1.75 million American Depository Shares (ADS)
  • Each ADS represents 100 ordinary shares and will be issued at US$70 (around A$91.89)
  • The company will use the proceeds from the offering for the continued development of its Piedmont Lithium Project in North Carolina, as well as for its investment in Sayona Mining and Sayona Quebec
  • Shares have been trading 0.24 per cent higher at $1.06

Piedmont Lithium (PLL) has released the details of the U.S. public offering it announced yesterday.

The dual ASX- and NASDAQ-listed company will raise US$122.5 million (approximately A$159.1 million) via the issue of 1.75 million American Depository Shares (ADS).

Each ADS represents 100 ordinary shares and will be issued at US$70 (around A$91.89). This would equate to approximately 90.9 cents per ordinary shares — a 3 per cent discount to the 20-day volume-weighted average price on the ASX of 93.3 cents.

The company will use the proceeds from the offering for the continued development of its Piedmont Lithium Project, located in the Carolina Tin Spodumene Belt of North Carolina.

Work on the horizon for this project includes definitive feasibility studies, testwork, permitting, drilling, resource updates and ongoing land consolidation.

Additionally, Piedmont will put some of the fresh capital into its strategic investment in Sayona Mining (SYA) and Sayona Quebec.

Shares have been trading 0.24 per cent higher at $1.06.

PLL by the numbers
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