Piedmont, Sayona Complete Merger To Form Elevra Lithium, A Major Hard-Rock Lithium Platform

(RTTNews) - Piedmont Lithium Inc. (PLL) has completed its merger with Sayona Mining Limited following shareholder approval and fulfillment of all closing conditions.

The combined company, named Elevra Lithium, consolidates complementary assets to create one of the largest hard-rock lithium platforms globally, with a strong pipeline of development-stage projects to meet rising EV and energy transition demand.

Piedmont common stock and Chess Depositary Interests or CDIs will be delisted from Nasdaq and the ASX. Shareholders of Piedmont will receive 0.35133 American Depositary Shares or 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 - 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.

Friday, PLL closed at $7.25, down 8.29%, and is trading after hours at $7.32, up 0.97% on the NasdaqCM.