Lithium Americas Corp. (LAC) successfully completed a public offering of 55 million common shares at $5.00 per share, raising gross proceeds of US$275 million (approximately C$376.75 million) at the exchange rate on April 16, 2024. The offering was facilitated by an underwriting agreement dated April 17, 2024, involving lead underwriters Evercore Group L.L.C., Goldman Sachs & Co. LLC, and BMO Nesbitt Burns Inc., with additional support from J.P. Morgan, Canaccord Genuity, and others.

After deducting the underwriting fee of approximately $12.03 million USD (around C$16.48 million) and estimated expenses of $1 million USD (about C$1.37 million), net proceeds to LAC totaled approximately $262.97 million USD (around C$359.36 million). The underwriters also retained an over-allotment option to purchase up to an additional 8.25 million shares, potentially increasing total gross proceeds to $316.25 million USD (approximately C$433.47 million).

Legal matters for the offering were handled by Cassels Brock & Blackwell LLP for Canadian issues and Dorsey & Whitney LLP for U.S. issues on behalf of LAC. Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP represented the underwriters for Canadian and U.S. matters, respectively.

The common shares were listed on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the symbol "LAC." The closing of the offering was expected on or around April 22, 2024.