Shares of Lithium Americas Drop 19%, Plans to Sell 55M Shares

Dow Jones04-18

By Stephen Nakrosis

Shares of Lithium Americas were in the red in post-market trading market on Wednesday after the company said it plans to sell 55 million common shares in an underwritten public offering.

The stock fell 19% to $5.35 after it finished the day's regular session up 2.1% to close at $6.63. The shares are up 7.8% this year.

The Vancouver, British Columbia-based company is involved in lithium development projects.

Lithium Americas has a market cap of $1.05 billion, 160.05 million shares outstanding and a public float of 130.59 million shares.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 17, 2024 18:07 ET (22:07 GMT)

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