NEW YORK--(BUSINESS WIRE)--Piedmont Lithium Limited (Nasdaq:PLL; ASX:PLL) today announced the closing of its previously announced underwritten public offering of 2.3 million American Depositary Shares, which includes the full exercise of the underwriters’ option to purchase 300,000 additional ADSs, with each ADS representing 100 of its ordinary shares (“Public Offering”). The aggregate gross proceeds of the Public Offering, before underwriting discounts and commissions, totaled $57.5 million.

Evercore ISI, Canaccord Genuity and ThinkEquity, a division of Fordham Financial Management, Inc., acted as joint book-runners for the Public Offering. Loop Capital Markets and Roth Capital Partners acted as co-managers for the Public Offering.

Proceeds from the offering will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, further exploration drilling and ongoing land consolidation, and for general corporate purposes.

About Piedmont

Piedmont holds a 100% interest in the Piedmont Lithium Project located within the Carolina Tin-Spodumene Belt and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.