Liontown Resources has secured a $490 million equity raise to build the Kathleen Valley Lithium Project, set to begin production in 2024.
Firm: Allens (Liontown Resources).
Area: Corporate.
Value: $490 million.
Key players: The Allens team was led by corporate partner Bryn Hardcastle, who was assisted by senior associate Alexandra Meade, associate Nick Harrison and lawyer Cassandra Lee.
Deal significance: The raising comprises a fully underwritten $450 million institutional placement and non-underwritten $40 million share purchase plan and puts the company in a strong position to finalise discussions with offtake partners and commercial lenders, order long-lead items, and accelerate towards first production in 2024 – when significant global supply deficits for lithium are forecast to emerge.
Commenting on the deal, Mr Hardcastle said: “This is a landmark equity raising for Liontown which underpins the development of a world-class, long-life, Australian battery minerals hub.
“It has been a pleasure to support Liontown in the execution of its strategy to be an ESG-leader and globally significant provider of battery materials.”
Lauren is the commercial content writer within Momentum Media’s professional services suite, including Lawyers Weekly, Accountants Daily and HR Leader, focusing primarily on commercial and client content, features and ebooks. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications. Born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling.
