Piedmont Lithium’s US$130.8m capital raise succeeds with Thomson Geer’s help

Thomson Geer has helped US-based lithium producer Piedmont Lithium Inc. to successfully raise US$130.8m – an investment that will enable the company to establish an integrated lithium business in North America.

The underwritten capital increase was held in the US, with Thomson Geer acting on the Australian legal aspect of the transaction. The Thomson Geer team was led by partner Michael Ng, who received support from senior associate Chris Seotis.

Piedmont intends to use the funds to restart its operations at North American Lithium in Quebec, to lead exploration and definitive feasibility studies at Eyowaa in Ghana, and to advance its merchant lithium hydroxide plant in the south-eastern US. The company also plans to apply the funds in continuing the development of the Carolina Lithium Project, which includes ongoing permitting activities, engineering design and property acquisition.

Funds will be allotted to support Piedmont’s possible strategic initiatives and for general corporate purposes as well.

Financial services firms J.P. Morgan and Evercore ISI acted as joint book-runners, while Canaccord Genuity, B. Riley Securities, BTIG LLC, Clarksons Platou Securities, Inc., D.A. Davidson & Co., Jett Capital Advisors LLC, Loop Capital Markets, Roth Capital Partners, ThinkEquity, and Tuohy Brothers served as managers for the transaction.

Last year, Thomson Geer advised Piedmont on its successful redomicile from Australia to the US by way of scheme of arrangement.