- Lithium Americas Corp. (LAC, Financial) launches an ATM Program to potentially raise up to $100 million through equity distribution.
- The sales under the ATM Program will occur via the NYSE and TSX at prevailing market prices.
- The proceeds are earmarked for general corporate purposes, including project financing and capital expenditures.
Lithium Americas Corp. (LAC) has announced the establishment of an "At-The-Market" (ATM) equity distribution program. Under this new program, the company may offer and sell its common shares for up to $100 million through its agents, TD Securities (USA) LLC and TD Securities Inc., across various marketplaces, including the New York Stock Exchange and the Toronto Stock Exchange.
The volume and timing of any sales will be at the discretion of Lithium Americas, which is not obligated to sell any shares. The Toronto Stock Exchange has conditionally approved the listing of the shares issued under this program, and Lithium Americas is also seeking authorization from the New York Stock Exchange.
The potential net proceeds from this ATM will be diverted towards general corporate purposes. These include funding overhead expenses, financing capital expenditures, repaying debt, and enhancing working capital, supporting the company's growth and development strategies.
The ATM Program is part of the company's registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission, with supplemental documents available for Canadian investors via SEDAR+. These documents outline detailed terms and are accessible through respective investment agents upon request.
