Piedmont Lithium Announces At Market Issuance Sales Agreement For Up To $50M Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Piedmont Lithium has announced an at-market issuance sales agreement to sell up to $50 million of its common stock. This move is likely aimed at raising capital for its operations and projects.
September 26, 2024 | 2:10 pm
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Piedmont Lithium has entered into an at-market issuance sales agreement to sell up to $50 million of its common stock. This is likely a strategic move to raise capital for ongoing and future projects.
The issuance of new stock can lead to dilution of existing shares, which may put downward pressure on the stock price in the short term. However, the raised capital could be beneficial for the company's growth and projects in the long term.
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