Lithium Americas Corp. has entered into a securities purchase agreement with an affiliate of Yorkville Advisors Global, LP, to raise up to $175 million through subordinated convertible debentures. This financing provides the company with additional liquidity to support general corporate purposes, which may include funding project overhead, covering capital expenditures, repaying existing indebtedness, and bolstering working capital as the Thacker Pass project in Nevada progresses through its peak construction phase.

Under the terms of the agreement, Lithium Americas is set to issue $150 million in debentures upon filing its quarterly report on Form 10-Q for the period ended 30 June 2026. The company retains the right to issue up to an additional $25 million in debentures in one or more subsequent closings at its discretion, provided the conditions outlined in the purchase agreement are met. As part of the arrangement, the company has agreed to suspend sales under its at-the-market equity program for 30 days following the initial closing.

This capital injection serves to complement the existing funding structure at Thacker Pass, which includes a $2.23 billion U.S. Department of Energy loan and previous strategic investments from General Motors Holdings LLC and funds managed by Orion Resource Partners. The project, which is designed to produce 40,000 tonnes per year of battery-grade lithium carbonate, is currently undergoing significant development activity.

“Thacker Pass is progressing well toward our late 2027 mechanical completion target, with over 1,600 personnel on site and long-lead equipment and materials arriving daily.”

— Jonathan Evans, President and Chief Executive Officer

The project remains on track for its targeted mechanical completion in late 2027. With over 1,600 personnel now on site and long-lead equipment and materials arriving on a daily basis, the team is focused on navigating global macroeconomic and geopolitical pressures to advance the construction of the facility. The company notes that this financing provides the financial flexibility necessary to maintain that momentum during the current peak construction period.

Read the full announcement: Lithium Americas Further Strengthens Balance Sheet with $175 Million Financing as Thacker Pass Approaches Peak Construction