Lithium Americas (LAC) is responding to media reports pertaining to the status of its previously announced $2.26B loan from the U.S. Department of Energy. The company is in discussions with the DOE and General Motors (GM), its joint venture partner in the Thacker Pass lithium project, regarding first draw on the DOE Loan. The topics of these discussions include certain conditions precedent to draw on the DOE Loan and associated loan specifics, as well as incremental requests from the DOE for potential further conditions to first draw and/or potential amendments to the DOE Loan and associated transaction documents, including corresponding consideration. The company continues to work with the DOE and GM regarding proposals for a mutually agreeable resolution.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LAC:
- Lithium Americas rally on potential government stake overblown, says JPMorgan
- Lithium Americas price target lowered to $7 from $8 at Jefferies
- Why Lithium Americas Stock (LAC) Blasts Off 68% Pre-Market Today
- Closing Bell Movers: Micron up marginally after initial post-earnings spike
- Trump seeks equity stake in Lithium Americas in loan talks, Reuters reports