Lithium Americas raises $400M in public offering targeting $350M

Lithium Americas Corp. raised $400 million from its underwritten public offering targeting $350 million, with the full exercise of the overallotment option, it said Jan. 22.

The British Columbia-based company plans to use the proceeds to develop its Lithium Nevada, or Thacker Pass, project as well as for general corporate and working capital purposes.

Canaccord Genuity acted as lead bookrunning manager for the offering, with Deutsche Bank Securities, Evercore ISI and Stifel as joint bookrunning managers. National Bank Financial and Cormark Securities were co-managers.

Lithium Americas' main assets include the Cauchari-Olaroz project in Argentina.