LITHIUM AMERICAS CORP.

The Yorkville deal's first tranche closed: $150 million of the subordinated convertible debentures were issued, with a fixed conversion price of $4.56 (or a lower variable price) and a floor of $1.63, potentially dropping to $0.65 - completing the company's third major dilutive financing move within a year, after the DOE warrants and repeated ATM raises.

capital raising announcement

Lithium Americas turned to a structured, potentially dilutive financing source: a deal with Yorkville Advisors (YA II PN) for up to $175 million of subordinated convertible debentures, with a variable conversion price (95% of the lowest 5-day VWAP, subject to a floor) and interest rates that step up to 7.5% or 15% if the stock falls, registration lapses, or dilution caps are hit - the kind of toxic-convertible structure typically used when cheaper capital isn't available. The notes rank behind, and are cash-repayment-limited while, Orion's existing notes remain outstanding.

capital raising announcement

Lithium Americas executed the dilutive warrants promised to the DOE under last October's loan waiver: a 10-year warrant to buy 18,268,687 shares (5% of the company) at $0.01/share, plus a warrant for a 5% non-voting economic stake in the LAC-GM joint venture at $0.0001/unit - real, priced-in dilution now delivered in exchange for keeping the federal project loan on track.

capital raising announcement

To keep its DOE loan for Thacker Pass in good standing, Lithium Americas agreed to a package of concessions: issuing the DOE penny warrants for 5% of its common shares and 5% of the LAC-GM joint venture's economic interest, tightening GM offtake-priority terms, and contributing an additional $120 million to DOE loan reserve accounts ($60M debt-service-coverage shortfall reserve, $60M care & maintenance reserve) within 12 months - real dilution and cash commitments to preserve the project's federal financing.

capital raising announcement

The Orion financing closed: Lithium Americas issued the $195 million convertible note and received the $25 million production payment, funding $220 million of the announced $250 million Phase 1 construction package.

capital raising announcement

Lithium Americas lined up a $250 million financing package from mine-finance specialist Orion Resource Partners for Thacker Pass Phase 1 construction: a $195 million convertible note (9.875% interest, convertible at $3.78/share), a $25 million production payment agreement, and an option for Orion to fund a further $30 million within two years.

capital raising announcement

Lithium Americas released a sharply increased reserve and resource estimate for Thacker Pass: Proven & Probable reserves of 14.3 million tonnes lithium carbonate equivalent (up 286% from the 2022 feasibility study) and Measured & Indicated resources of 44.5 million tonnes (up 177%), now the world's largest measured lithium deposit - supporting a five-phase expansion to 160,000 tonnes/year over an 85-year mine life, with an after-tax NPV of $5.9-8.7 billion. The project is held through Lithium Nevada Ventures LLC, a joint venture 62% owned by Lithium Americas and 38% by General Motors.

resource reserve update

the exchange certified LITHIUM AMERICAS CORP.'s securities for listing, clearing them to begin trading.

listing compliance notice