Elevra Lithium Mergers Piedmont and Sayona to Form Global Lithium Platform

Piedmont Lithium has completed its merger with Sayona Mining to form Elevra Lithium, a major hard-rock lithium platform. The combined company has a strong pipeline of development-stage projects to meet EV and energy transition demand. Shareholders of Piedmont will receive 0.35133 ADS of Elevra for each share of Piedmont common stock. The merger expands global reach, enhances scale, and positions Elevra as a leading supplier to EV and stationary storage markets.

Piedmont Lithium Inc. (Nasdaq: PLL; ASX: PLL) and Sayona Mining Limited (Nasdaq: ELVR; ASX: SYA; OTCQB: SYAXF) have successfully completed their merger to form Elevra Lithium, a major hard-rock lithium platform. The new company, Elevra Lithium, brings together complementary assets and creates one of the largest hard-rock lithium platforms in the industry. The merger was approved by shareholders of both companies and all closing conditions were satisfied [1].

Elevra Lithium is well-positioned to supply the growing demand from the global energy transition, particularly in the electric vehicle (EV) and stationary storage markets. The combined company's portfolio includes a globally significant number of development-stage projects, which will enhance its ability to meet the increasing demand for lithium resources [1].

The merger will significantly strengthen Piedmont Lithium's global footprint and enhance its scale. Keith Phillips, President and Chief Executive Officer of Piedmont Lithium, stated, "The combination with Sayona significantly strengthens our global footprint, enhances scale, and positions us to be a leading supplier of lithium resources to the growing EV and stationary storage supply chains. We are excited to move forward as a combined company with Sayona and to build long-term value for all stakeholders" [1].

As part of the merger, Piedmont's common stock and Chess Depositary Interests (CDIs) will be delisted from the Nasdaq and the Australian Securities Exchange, respectively. Shareholders of Piedmont Lithium common stock will receive 0.35133 American Depositary Shares (Nasdaq: ELVR) for each share of Piedmont common stock held, representing 527 Sayona ordinary shares. Similarly, holders of Piedmont CDIs will receive 5.27 Sayona ordinary shares (ASX: SYA) for each CDI held [1].

The merger comes at a critical time for the lithium market, which has experienced a dramatic collapse since 2022. Lithium prices have plummeted by nearly 90%, pushing many operations below their break-even point and forcing difficult decisions across the industry [3]. The current market downturn stems from a fundamental mismatch between supply expansion and demand growth, with overenthusiastic production expansion leading to a deep supply glut [3].

Despite the challenging market conditions, Elevra Lithium's strong pipeline of development-stage projects positions it well to capitalize on the long-term growth prospects in the EV and energy transition markets. The merger is expected to enhance the company's ability to navigate the volatile lithium market and create long-term value for all stakeholders.

References:

[1] https://www.businesswire.com/news/home/20250829103663/en/Piedmont-Lithium-Announces-Completion-of-Merger-With-Sayona-Mining
[3] https://discoveryalert.com.au/news/lithium-market-collapse-2025-price-impact/