Calix (ASX:CXL) executed final transaction documents with PLS Group (ASX:PLS) to complete the restructuring of the lithium Mid-Stream Project and confirm an updated commercialization framework under binding terms, according to a Monday Australian bourse filing.

The deal results in an immediate cash payment of AU$5.7 million to the company, with an additional AU$5.7 million payable unconditionally by July 31, per the filing.

PLS is granted a perpetual, royalty-free license to use the company's technology in its own or joint venture lithium operations, while the company retains upside via a 20:80 royalty split on any third-party applications, the filing said.

The agreement strengthens the company's cash and liquidity position and sharpens its focus on major market opportunities for its platform technology in iron and steel, cement and lime, alumina, and magnesia, the filing added.

Calix shares rose past 2% in recent Monday trade, while PLS shares fell around 1%.