SLI - Standard Lithium completes $100M Koch direct investment

Standard Lithium (NYSE:SLI) +3.5% pre-market after saying Koch Strategic Platforms completed its $100M investment in the company through a direct private placement. Under the deal terms, KSP was issued ~13.48M common shares of Standard Lithium at C$9.43/share (US$7.42/share) for C$127.07M (US$100M) in total gross proceeds. The company says it plans to use the investment to rapidly advance the first commercial project proposed for the Lanxess facility; accelerate and expand development of the South West Arkansas Lithium Project; and develop and commercialize modern lithium extraction and processing technologies and work collaboratively with Koch Engineered Solutions businesses. Standard Lithium shares have gained 20% since the Koch investment was first announced on November 24.

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Standard Lithium completes $100M Koch direct investment