PLL - Piedmont prices upsized stock offering at $65/share

Piedmont Lithium (NASDAQ:PLL) prices an upsized underwritten public offering of 1.75M common shares at $65/share, a 13.5% discount to Monday's closing price, for aggregate gross proceeds of $113.75M; trading is halted. Piedmont also granted the underwriters an option to purchase up to an additional 262.5K shares at the issue price. The company said on Monday that it plans to use the proceeds to fund its share of the capital required to restart operations at North American Lithium in Quebec, among other purposes. Piedmont Lithium has said it expects to double its lithium hydroxide production in the U.S. to 60K tons/year in 2022.

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Piedmont prices upsized stock offering at $65/share