Standard Lithium announces $120 million public offering of common shares

Standard Lithium Ltd. (TSXV: SLI) (NYSE.A: SLI) announced plans for an underwritten public offering of $120 million in common shares, according to a company statement.

The Vancouver-based lithium development company said the offering remains subject to market and other conditions, with no assurance regarding completion or final terms. Standard Lithium expects to grant underwriters a 30-day option to purchase up to an additional 15% of shares at the public offering price.

Morgan Stanley and Evercore ISI will serve as co-lead book-running managers, with BMO Capital Markets as book-running manager for the proposed offering.

The company plans to use net proceeds to fund capital expenditures at its South West Arkansas Project and Franklin Project in East Texas, along with working capital and general corporate purposes.

Standard Lithium filed preliminary prospectus supplements in Canada and the United States in connection with the offering. The offering will be conducted in the United States and Canadian provinces and territories, excluding Quebec.

The company operates lithium-brine properties in the United States, focusing on projects in the Smackover Formation across Arkansas and Texas. Standard Lithium works in partnership with Equinor on the South West Arkansas project and maintains a lithium brine resource position in East Texas.

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