Financing ·
Lithium Americas Corp. entered into a Securities Purchase Agreement with YA II PN, Ltd. to issue up to $175 million in…
LACLithium Americas Corp.
Lithium Americas Corp. entered into a Securities Purchase Agreement with YA II PN, Ltd. to issue up to $175 million in aggregate principal amount of subordinated convertible debentures. The company will initially issue $150 million upon filing its Form 10-Q for the period ended June 30, 2026, with an option to sell an additional $25 million. The debentures carry a five-year maturity and a base interest rate of 5%, which steps up to 7.5% or 15% upon certain events. Conversion is subject to caps limiting the investor's ownership to 4.99% (increasable to 9.99%) or 19.99%. Proceeds will support general corporate purposes, including capital expenditures for the Thacker Pass project in Nevada, which targets mechanical completion in late 2027 and production of battery-grade lithium carbonate.