On November 19, 2024, North American Lithium producer Sayona Mining Limited (ASX:SYA; OTCQB:SYAXF) and Piedmont Lithium Inc. (NASDAQ:PLL) (ASX:PLL) announced the signing of a definitive agreement to combine the two companies to create a leading lithium business, resulting in Sayona being the ultimate parent entity.
The transaction will result in an approximate 50% / 50% equity holding of shareholders of Sayona and Piedmont Lithium (on a fully diluted basis) in Sayona as the combined company immediately following the closing of the transaction. The combined company will maintain Sayona’s existing primary listing on ASX and will have secondary listing of American Depositary Shares on Nasdaq.
Completion of the transaction is subject to shareholder approval for both companies, regulatory approvals and other customary closing conditions and is expected to occur in the first half of 2025.
Baker Botts L.L.P. acted as legal counsel to Sayona.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
