- Piedmont Lithium has raised around $70 million in a U.S. public offering to continue developing its namesake project in Carolina, U.S.
- PLL offered two million American depository shares (ADSs) at US$25 each (around A$35.23) to raise US$50 million (about A$70.45 million)
- Each ADS represents 100 PLL ordinary shares
- Then the issue price represents a 13 per cent discount to the 20-day volume-weighted average price of 40.6 cents
- PLL will use the funds to progress its flagship project, including a definitive feasibility study, testwork, permitting and further exploration drilling
- Piedmont Lithium closed Thursday’s session 5.95 per cent lower at 39.5 cents per share
