Financing ·
Lithium Americas Corp. completed the initial closing of a private placement with YA II PN, Ltd., issuing $150.0…
LACLithium Americas Corp.
Lithium Americas Corp. completed the initial closing of a private placement with YA II PN, Ltd., issuing $150.0 million in aggregate principal amount of subordinated convertible debentures on August 13, 2026. The company retains the right to sell an additional $25.0 million in delayed closings. These five-year notes carry a base interest rate of 5%, which steps up to 7.5% within two years and 15% thereafter if specific triggers occur. Conversion is permitted at the lower of $4.56 or 95% of the preceding five-day VWAP, subject to a floor of $1.63. Proceeds are designated for general corporate purposes, including capital expenditures and debt repayment. The company operates in the mining industry, focusing on lithium development.