PDDTF - Piedmont Lithium proposes public offering of 1.5M ADSs

Australia's Piedmont Lithium (PDDTF) readies to offer 1.5M ADSs in U.S. public offering, with underwriters' additional option to purchase up to 225K ADSs, each representing 100 of its ordinary shares.Issue price not yet disclosed.The company says proceeds from the offering will be used to continue development of its Piedmont Lithium Project in North Carolina, including a definitive feasibility study and ongoing land consolidation, as well as for general corporate purposes.Evercore ISI, Canaccord Genuity and ThinkEquity, a division of Fordham Financial Management, are acting as joint book-runners and lead underwriters to the offer.Shares of Piedmont Lithium, formerly WCP Resources, fell 4.55% on ASX to close at A$0.42 on Monday.Previously: Piedmont Lithium sky-high on sales agreement with Tesla.

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Piedmont Lithium proposes public offering of 1.5M ADSs