Standard Lithium Secures $130 Million from Public Offering
Standard Lithium Reaches New Financial Milestone
Standard Lithium Ltd. has recently announced a significant financial achievement in the lithium market. This leading near-commercial lithium company revealed the details of its public offering, which has attracted considerable attention within the investment community.
Details of the Offering
The $130 million underwritten public offering consists of 29,885,057 common shares, priced at $4.35 each. This funding is not just a number; it marks a pivotal moment for the company as it secures the necessary support to further its exemplary projects in the lithium sector.
Role of Underwriters
A robust syndicate of underwriters, including Morgan Stanley and Evercore ISI as co-lead book-running managers, facilitated this venture. They are joined by BMO Capital Markets and other notable firms, demonstrating a solid backing from respected financial institutions.
Strategic Use of Proceeds
Standard Lithium plans to allocate the proceeds from this offering towards enhancing its capital expenditures at its key project sites: the South West Arkansas Project and the Franklin Project in East Texas. This strategic focus aims to optimize their operations and advance their presence in the promising lithium market.
Upcoming Milestones
The closing of the offering is anticipated shortly, showcasing the firm’s commitment to timely execution and transparency. The company is currently awaiting customary closing conditions, which include necessary approvals from relevant exchanges.
Importance of the Projects
Standard Lithium is dedicated to sustainable lithium production and aims to capitalize on its large, high-grade lithium-brine properties. The company’s flagship projects are located in regions renowned for high-quality lithium assets, underscoring the potential for significant future production.
About Standard Lithium
As a trailblazer in the lithium industry, Standard Lithium is committed to operational excellence and innovation. Its partnerships, particularly with global energy leader Equinor, enhance its projects’ credibility and potential for success.
Standard Lithium's stock is publicly traded on both the TSX Venture Exchange and the NYSE American under the ticker symbol “SLI.” This dual listing underscores the company's efforts to reach a broad investor base while further solidifying its position in the energy market.
Investor Communication
For inquiries regarding this offering or the company’s future initiatives, investors can reach out to Daniel Rosen directly. Standard Lithium is dedicated to maintaining open lines of communication with its shareholders and interested parties.
Frequently Asked Questions
What amount did Standard Lithium raise through the offering?
Standard Lithium raised $130 million through its underwritten public offering of common shares.
Who were the primary underwriters for this offering?
The primary underwriters were Morgan Stanley and Evercore ISI, along with BMO Capital Markets and several others.
What projects will the funds be used for?
The proceeds will primarily support capital expenditures at the South West Arkansas Project and the Franklin Project in East Texas.
When is the closing of the offering expected?
The closing is expected to occur shortly, pending standard closing conditions and exchange approvals.
Where is Standard Lithium traded?
Standard Lithium trades on the TSX Venture Exchange and the NYSE American under the ticker symbol “SLI.”
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