Piedmont Lithium and Sayona Mining Merge to Form Elevra Lithium, Boosting Global Lithium Presence.

Piedmont Lithium and Sayona Mining have completed their merger to form Elevra Lithium, one of the largest hard-rock lithium platforms globally. The new entity will capitalize on increasing lithium demand for electric vehicles and energy storage systems. Shareholders of Piedmont will receive new shares in Elevra as part of the merger agreement. Elevra will be a major player in the lithium industry, crucial for electric vehicle supply chains.

Piedmont Lithium Inc. (PLL) and Sayona Mining Limited have completed their merger to form Elevra Lithium, one of the largest hard-rock lithium platforms globally. The new entity will capitalize on the increasing demand for lithium in electric vehicles (EVs) and energy storage systems. Shareholders of Piedmont will receive new shares in Elevra as part of the merger agreement.

The combined company, Elevra Lithium, will consolidate complementary assets to create a significant hard-rock lithium platform. The merger aims to meet the rising demand for lithium, which is essential for the production of EV batteries and energy storage systems. Elevra Lithium will have a strong pipeline of development-stage projects, positioning it as a leading supplier in the lithium industry.

The merger was finalized following shareholder approval and the fulfillment of all closing conditions. Piedmont common stock and Chess Depositary Interests (CDIs) will be delisted from Nasdaq and the ASX. Shareholders of Piedmont will receive 0.35133 American Depositary Shares (ADS) of Elevra, equivalent to 527 Sayona ordinary shares, for each share of Piedmont common stock. Holders of Piedmont CDIs will receive 5.27 Sayona ordinary shares for each CDI held. Fractional shares will be rounded up to the nearest whole share.

The implied ADS price based on Sayona's August 29, 2025, closing price of A$0.026 is approximately $25.53 USD, translating to an implied Piedmont share price of $8.97 USD. CEO Keith Phillips described the merger as a transformative milestone, noting that the combination expands global reach, enhances scale, and positions Elevra Lithium as a leading supplier to electric vehicle and stationary storage markets, creating long-term value for shareholders, employees, and partners.

On July 2, 2025, Piedmont Lithium closed at $7.25, down 8.29%, and is trading after hours at $7.32, up 0.97% on the NasdaqCM.

References:
[1] https://www.nasdaq.com/articles/piedmont-sayona-complete-merger-form-elevra-lithium-major-hard-rock-lithium-platform
[2] https://www.businesswire.com/news/home/20241008650501/en/Rio-Tinto-to-acquire-Arcadium-Lithium