Piedmont Lithium (PLL) Prices 1.75M ADS Offering at $70

Piedmont Lithium Limited (Nasdaq: PLL) announced the pricing of an underwritten public offering of 1.75 million of its American Depositary Shares (“ADSs”), with each ADS representing 100 of its ordinary shares, at a price per ADS to the public of $70.00, for aggregate gross proceeds of $122.5 million. Piedmont has granted the underwriters a 30-day option to purchase up to an additional 262,500 ADSs at the issue price of the Public Offering. The Public Offering is expected to close on March 25, 2021, subject to customary closing conditions.

J.P. Morgan, Evercore ISI and Canaccord Genuity are acting as joint book-runners for the Public Offering. BTIG, LLC, B. Riley Securities, Loop Capital Markets, Roth Capital Partners, ThinkEquity, a division of Fordham Financial Management, Inc., Jett Capital Advisors and Tuohy Brothers are acting as co-managers for the Public Offering.

Proceeds from the Public Offering will be used to continue development of the Company’s Piedmont Lithium Project, including definitive feasibility studies, testwork, permitting, further exploration drilling, mineral resource estimate updates and ongoing land consolidation, to fund the previously announced strategic investments in Sayona Mining Limited and Sayona Quebec Inc and other possible strategic initiatives, and for general corporate purposes.

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