Piedmont Lithium (ASX: PLL) and Sayona Mining (ASX:SYA) amended their proposed merger agreement, according to a Thursday filing with the Australian bourse.

The amendments include a 1-for-150 Sayona share consolidation and a revised exchange ratio of 3.5133 Sayona shares per Piedmont share, the filing said.

The changes, pending shareholder approval, include renaming the merged entity Elevra Lithium, with new ticker symbols "ELV," the filing added.

Sayona will also seek to ratify a prior 1.25 billion-share issuance and raise board fee limits to reflect a larger board, the company said.