Piedmont Lithium (ASX:PLL) said it has merged with Sayona Mining (ASX: SYA) to form Elevra Lithium, following shareholder approval and meeting all conditions, according to a Monday filing with the Australian bourse.
The company's stock and Chess Depositary Interests (CDI) will be delisted from the Australian Securities Exchange, and its shareholders will receive 0.35133 of Elevras's American Depositary shares for each share of common stock held, the filing said.
Holders of Piedmont's CDIs will receive 5.27 Sayona ordinary shares for each CDI held, the filing added.
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