Standard Lithium Closes $130 Million Underwritten Public Offering
Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSX-V: SLI) (NYSE: SLI), a prominent player in lithium development, has successfully completed its announced public offering of nearly 30 million common shares. The offering was priced at US $4.35 per share, resulting in total gross proceeds of around US $130 million.
Details of the Offering
The public offering was orchestrated through a team of underwriters led by Morgan Stanley, alongside Evercore ISI serving as co-lead book-running managers. Additional participation came from BMO Capital Markets, Canaccord Genuity, Raymond James, Roth Capital Partners, and Stifel, all contributing to a strong offering framework.
Additional Share Option
In a strategic move, the Company has also provided its underwriters the option to purchase up to approximately 4.5 million additional shares at the same issue price. This option is available for up to 30 days following the closing of the offering, indicating the confidence that underwriters have in the market potential of Standard Lithium.
Use of Proceeds
The net proceeds from this offering are earmarked for several key initiatives. Primarily, the funds will support capital expenditures at the Company’s South West Arkansas Project and the Franklin Project in East Texas. This infusion of capital will also bolster working capital and other corporate expenses, laying a stronger foundation for the Company’s continued growth.
About Standard Lithium Ltd.
Standard Lithium stands out as an innovative company in the lithium sector, dedicated to bringing high-quality resources to market. The Company is concentrated on developing a portfolio rich in lithium brine properties located in the United States, especially focusing on sustainability. Their projects leverage advanced extraction processes to optimize lithium production while minimizing environmental impact.
Flagship Projects
Among Standard Lithium’s flagship initiatives is the South West Arkansas project, developed alongside global energy leader Equinor. This enterprise represents a significant greenfield development, demonstrating the Company’s commitment to tapping into high-value lithium resources sustainably. The Company is also expanding its footprint in East Texas, where it is exploring additional lithium brine resource opportunities.
Investor Relations
For investor inquiries, Standard Lithium encourages stakeholders to connect with Daniel Rosen at +1 604 409 8154 or via email at investors@standardlithium.com. Media inquiries can be directed to media@standardlithium.com. This open line of communication reflects the Company’s aim to maintain transparency and engagement with investors and the public.
Frequently Asked Questions
What is the main purpose of the $130 million offering?
The funds raised from the offering will support capital expenditures on the South West Arkansas Project and the Franklin Project, in addition to enhancing working capital.
Who managed the underwritten public offering?
The offering was led by Morgan Stanley and Evercore ISI, with support from several other financial institutions, ensuring a robust framework for the offering.
What are the critical projects Standard Lithium is focusing on?
Standard Lithium is primarily focused on the South West Arkansas Project and is also developing resources in East Texas, aiming to optimize lithium extraction sustainably.
How can investors get in touch with Standard Lithium?
Investors can reach out to Daniel Rosen at +1 604 409 8154 or through email at investors@standardlithium.com for inquiries.
Where can additional information about the offering be found?
Further details regarding the offering and Standard Lithium’s projects can be found in their filed prospectus and registration statements available through the appropriate Canadian and U.S. regulatory bodies.
