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Piedmont Lithium (Nasdaq: PLL) has completed its merger with Sayona Mining, forming a new entity called Elevra Lithium. The merger creates one of the largest hard-rock lithium platforms positioned to supply the growing EV and energy storage markets.
Under the merger terms, Piedmont shareholders will receive 0.35133 American Depositary Shares (Nasdaq: ELVR) for each Piedmont common share, while CDI holders will receive 5.27 Sayona ordinary shares for each CDI. The implied value per Piedmont share is $8.97. Following the transaction, Piedmont will be delisted from both Nasdaq and ASX.
