Lithium Americas secures $250M Orion investment to fully fund Thacker Pass Phase 1

LITHIUM AMERICAS CORP.

Orion invests $250M: $195M convertible notes (9.875% interest, conv. price $3.78), $25M PPA, $30M delayed draw.
Investment expected to close week of Mar 10; enables FID for Thacker Pass Phase 1; fully funded for construction.
Phase 1 target late 2027; first DOE loan draw Q3 2025; Orion to evaluate up to $500M for Phase 2.
Conversion price of $3.78 per share is a 43% premium to 5-day VWAP on NYSE.

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