Lithium Americas secures $175 million in debentures for Thacker Pass
The company entered into a securities purchase agreement for up to $175 million in subordinated convertible debentures to bolster liquidity.
Lithium Americas (LAC), the lithium mining developer, secured a securities purchase agreement for up to $175 million in subordinated convertible debentures.
The financing is intended to strengthen liquidity during the peak construction phase of its Thacker Pass project.
Thacker Pass is progressing toward a mechanical completion target in late 2027. More than 1,600 personnel are currently on site.
As part of the financing arrangement, Lithium Americas agreed to suspend sales under its at-the-market equity program for 30 days following the initial closing of the $150 million debenture issuance.