Closing Date: December 9, 2021
On December 6, 2021, Lithium Americas Corp. closed a private placement of unsecured convertible senior notes for gross proceeds of approximately US$225 million. On December 9, 2021, the initial purchasers’ exercised their over-allotment option in full, increasing the total offering to approximately US$258 million.
The offering was conducted by a syndicate of underwriters led by Deutsche Bank Securities Inc. and Clarksons Platou Securities AS, which acted as joint book-running managers, BMO Capital Markets Corp., Canaccord Genuity LLC and TD Securities Inc., which acted as passive book-running managers, and B. Riley Securities, Inc., Cormark Securities Inc., Cowen and Company, LLC, National Bank Financial Inc., Scotia Capital (USA) Inc., Stifel, Nicolaus & Company, Incorporated, Industrial Alliance Securities Inc. and Tuohy Brothers Investment Research Inc., which acted as co-managers.
Lithium Americas used a portion of the proceeds to repay in full its US$205 million senior secured credit facility.
Cassels Brock & Blackwell LLP acted as Canadian counsel for Lithium Americas with a deal team that included
David Redford,
Evan Low,
Robert Hamilton (securities and mining),
Carla Potter,
Jenna Clark (banking & specialty finance and mining),
Corinne Grigoriu,
Ashley Jung (tax),
Kimberly Dodson (law clerk).
Dorsey & Whitney LLP acted as US counsel for Lithium Americas with a deal team that included
James Guttman,
Nicholas Arruda,
Erin McCrady,
Jude Gee,
Joseph Frydenlund.
Skadden, Arps, Slate, Meagher & Flom LLP acted as US counsel for the underwriters with a deal team that included,
Brandon Bailey,
Ryan Dziernioejko,
Aliza Rana,
Sandro Dinobile,
Yossi Vebman.
Blake, Cassels & Graydon LLP acted as Canadian counsel for the underwriters with a deal team that included
Kathleen Keilty,
Trevor Simpson,
Sebastian Lowes.