Benzinga | Oct 19, 2020 04:37PM EDT

Piedmont Announces Proposed US Public Offering Of 1.5M American Depositary Shares

NEW YORK--(BUSINESS WIRE)-- Piedmont Lithium Limited ("Piedmont" or the "Company") (NASDAQ:PLL, ASX:PLL))) today announced that it plans to conduct a U.S. public offering, subject to market and other conditions, of 1.5 million of its American Depositary Shares ("ADSs"), with each ADS representing 100 of its ordinary shares ("Public Offering").

Evercore ISI, Canaccord Genuity and ThinkEquity, a division of Fordham Financial Management, Inc., are acting as joint book-runners and lead underwriters for the Public Offering. Piedmont intends to grant the underwriters a 30-day option to purchase up to 225,000 additional ADSs at the issue price of the Public Offering.

Proceeds from the offering will be used to continue development of the Company's Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, further exploration drilling and ongoing land consolidation, and for general corporate purposes.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement related to the offering of the ADSs has been filed with the SEC and is available on the SEC's website at http://www.sec.gov and on the ASX website. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the Public Offering may be obtained from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by e-mail at ecm.prospectus@evercore.com; Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn: Syndicate Department, by telephone at (671) 371-3900 or email at prospectus@cgf.com; and ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, telephone at (877) 436-3673 or e-mail at prospectus@think-equity.com.