Mining Stocks in Play - Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) Sinks on Financing News
April 18, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com) Mining Stock in Play - Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) , a Canadian-based lithium resource company that owns 100% of the Thacker Pass project located in Humboldt County in northern Nevada, has nose- dived in today's trading session following financing news priced at a significant discount to market. Investors have sold off the stock and its currently trading down at $6.67 down $2.49 or 27.18% on the TSX and $4.8450, falling $1.7850 or 26.9231% on the NYSE.
Lithium Americas announced the pricing of its previously announced underwritten public offering of 55,000,000 of its common shares at a price to the public of $5.00 per Common Share for aggregate gross proceeds to the Company of $275,000,000.
The Offering is being conducted through a syndicate of underwriters led by Evercore ISI, Goldman Sachs & Co. LLC and BMO Capital Markets (together, the "Lead Underwriters"), as the co-lead book-running managers, J.P. Morgan as joint book-running manager, and Canaccord Genuity, Cormark Securities Inc., Scotiabank, Stifel Canada, Eight Capital and Tuohy Brothers as co-managers (together with the Lead Underwriters, collectively, the "Underwriters").
The Company has granted the Underwriters an option to purchase up to 8,250,000 additional Common Shares (the "Over-Allotment Option") at the Issue Price, exercisable, in whole or in part, for up to 30 days after the closing of the Offering.
The Company intends to use the net proceeds of the Offering for advancing the construction and development of its Thacker Pass lithium project in Humboldt County, Nevada ("Thacker Pass"), as further described in the Prospectus Supplements.
Read the company's full news and disclaimer here:
https://ca.finance.yahoo.com/news/lithium-americas-prices-us-275-055600817.html
Research more mining stocks with Investorideas.com stock directory
https://www.investorideas.com/Gold_Stocks/Stocks_List.asp
About Investorideas.com - Big Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Follow us on Twitter @investorideas and @stocknewsbites
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Sign up for free stock news alerts at Investorideas.com
https://www.investorideas.com/Resources/Newsletter.asp
Contact Investorideas.com
800 665 0411