Is Lithium Americas acquiring Arena lithium for $227 million?

Lithium Americas (TSX: LAC) announced today that it is acquiring Arena Lithium for $227 million. The companies said that the transaction is complementary.

How many Lithium Americas shares were issued under the arrangement?

In aggregate, the Company issued approximately 8.4 million Lithium Americas common shares under the Arrangement to former Arena securityholders as consideration for their respective Arena Shares and convertible securities. Trading of the Arena Shares on the TSX Venture Exchange will remain halted until delisting.

What are lithium stocks?

Lithium stocks are publicly traded companies involved in mining, processing or working with lithium, a critical material for manufacturing batteries used in laptops, cell phones and electric vehicles, or EVs. With demand for all of these products surging, so is the demand for lithium.

Where does Lithium Americas trade?

Lithium Americas is a development-stage company with projects in Jujuy, Argentina and Nevada, United States. The Company trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol “LAC”.