Data source: S&P Global Market Intelligence
6th April 2018
The new shareholder will sign up for common share subscription receipts at C$1.12 each, according to an April 5 release.
The company is looking to raise between US$775 million and US$825 million and in late March signed a nonbinding term sheet for US$150 million related to a streaming agreement.
As long as SoftBank holds at least a 5% stake in Nemaska, it will have the right of first offer to purchase up to 20% of the lithium hydroxide and lithium carbonate produced at the Shawinigan plant from the spodumene concentrate sourced from the Whabouchi mine.
SoftBank can also elect a director to Nemaska’s board.
The placement is expected to close within 10 days of the announcement.