Lithium Americas Prices Offering of US$225 Million Convertible Senior Notes Due 2027

The Notes will be unsecured and will accrue interest payable semi-annually in arrears at a rate of 1.75% per annum on January 15 and July 15 of each year, beginning on July 15, 2022. Prior to October 15, 2026, the Notes will be convertible at the option of the holders during certain periods, upon satisfaction of certain conditions. Thereafter, the Notes will be convertible at any time until the close of business on the business day immediately preceding the maturity date. Upon conversion, the Notes may be settled, at the Company’s election, in common shares of the Company (the “Shares”), cash or a combination thereof. The initial conversion rate for the Notes will be 21.2307 Shares per US$1,000 principal amount of Notes, equivalent to an initial conversion price of approximately US$47.10 per Share. The initial conversion price of the Notes represents a premium of approximately 35% to the last reported sale price of the Shares on the New York Stock Exchange (the “NYSE”). Read More