Piedmont Lithium and Sayona Mining merge to form Elevra Lithium, leading in the lithium industry

From Yahoo Finance: 2025-04-24 11:11:00

Piedmont Lithium and Sayona Mining have agreed to amend their merger agreement to potentially create a new entity called Elevra Lithium. Sayona will seek shareholder approval for a share consolidation at a ratio of 150:1, resulting in an updated exchange ratio of 3.5133 Sayona shares for each Piedmont share. Sayona plans to change its name to Elevra Lithium and trade under new ticker symbols. The merger aims to position Elevra Lithium as a leader in the lithium industry, with equal equity holdings for both companies’ shareholders. Regulatory approvals have been secured, and the transaction is subject to shareholder approval and standard conditions. An extraordinary general meeting for Sayona shareholders is scheduled for the first half of 2025 to approve the transaction, raise funds, implement share consolidation, and change the company’s name. The target date for completion is mid-2025, pending necessary approvals.



Read more at Yahoo Finance: Sayona and Piedmont Lithium amend merger agreement