Lithium Americas Finalizes DOE Loan Amendments and Provides ATM Update

Executive Summary

• Lithium Americas finalized amendments to its $2.23 billion DOE loan, deferring $184 million of debt service and adding a $120 million reserve contribution.
• In exchange, the DOE will receive warrants for a 5% equity stake in Lithium Americas and a 5% economic stake in the Thacker Pass JV.
• The company completed its at‑the‑market (ATM) equity program, selling 26,921,629 shares for gross proceeds of $99,999,988.75.

Key Details

• DOE Loan Amendment:
• Deferral of $184 million scheduled debt service from the first five years to later maturity periods.
• Lithium Americas will fund an additional $120 million into DOE loan reserve accounts within 12 months of amendment effectiveness.
• Equity Consideration to DOE:
• DOE receives warrants to purchase common shares equal to a 5% equity stake at $0.01 per share (LAC Warrants).
• DOE also receives warrants for a 5% economic interest in the Thacker Pass JV, exercisable at $0.01 per unit (JV Warrants).
• Offtake Agreement Amendment:
• GM and its JV amended the lithium offtake agreement to allow Lithium Nevada LLC to enter additional third‑party offtake contracts for production not forecasted for GM purchase.
• ATM Program Completion:
• Total shares sold: 26,921,629 common shares.
• Gross proceeds: $99,999,988.75.
• Advisors & Agents:
• Financial advisor – Goldman Sachs & Co. LLC.
• U.S. legal counsel – Vinson & Elkins LLP; Canadian legal counsel – Cassels, Brock & Blackwell LLP.
• ATM agents – TD Securities (USA) LLC and TD Securities Inc.
• Regulatory Note: Company will rely on TSX exemption under Section 602.1 for interlisted issuer transactions.

Notable Quotes

(No direct quotes were provided in the release.)