BUZZ-Piedmont Lithium gains after merger with Sayona Mining
Shares of U.S.-based mining co Piedmont Lithiumrise 2.9% to $12.60 premarketPLL to merge with Australia-based Sayona Mining (SYA.AX) in all-stock deal to create lithium business, with SYA as parent entityNew company will be owned 50-50 by each company’s shareholdersPiedmont will be undertaking proposed capital raise of $27 mln; Sayona undertaking capital raise of A$40 mln ($25.99 mln) Transaction expected to close during first half of 2025As of last close, stock down 56.61% YTD ($1 = 1.5392 Australian dollars)
Shares of U.S.-based mining co Piedmont Lithium (PLL.O) rise 2.9% to $12.60 premarket
PLL to merge with Australia-based Sayona Mining (SYA.AX) in all-stock deal to create lithium business, with SYA as parent entity
New company will be owned 50-50 by each company’s shareholders
Piedmont will be undertaking proposed capital raise of $27 mln; Sayona undertaking capital raise of A$40 mln ($25.99 mln)
Transaction expected to close during first half of 2025
As of last close, stock down 56.61% YTD ($1 = 1.5392 Australian dollars)
