Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) has announced the establishment of an At-The-Market (ATM) program, allowing the company to sell its common shares, with a maximum aggregate offering price of $100 million. The program provides flexibility, enabling the company to sell shares through the New York Stock Exchange (NYSE), the Toronto Stock Exchange (TSX), and/or any other marketplace as defined under applicable securities laws.
The company has revealed that the net proceeds from the ATM program will be utilized for general corporate purposes, including funding of corporate and project overhead expenses, financing of capital expenditures, repayment of indebtedness, and additions to working capital.
It's important to note that the ATM program has been established pursuant to the company’s registration statement on Form S-3, filed with the U.S. Securities and Exchange Commission (SEC) on May 15, 2025, and includes a prospectus related to the offering, as well as a Canadian prospectus supplement. However, the registration statement relating to these securities has been filed with the SEC but has not yet become effective.
Lithium Americas is currently developing the Thacker Pass project in Humboldt County in northern Nevada, which is said to host the largest known measured lithium resource and reserve in the world. The project is owned by a joint venture between Lithium Americas and General Motors Holdings LLC.
The company's shares are listed on both the NYSE and the TSX under the symbol "LAC."
This news release contains forward-looking information, and it is important to consider the risks and uncertainties associated with such statements. Following these announcements, the company's shares moved 0.33%, and are now trading at a price of $3.09. If you want to know more, read the company's complete 8-K report here.
