LITHIUM AMERICAS CORP. (LAC): debt financing — Lithium Americas closes $250M Orion investment, achieves FID for Thacker Pass Phase 1

LITHIUM AMERICAS CORP.

Closed $195M convertible note at 9.875% interest, $25M production payment from Orion; additional $30M delayed draw notes available.
Thacker Pass Phase 1 FID announced with GM; construction target late 2027 for 40,000 t/y lithium carbonate.
Fully funded status achieved; DOE $2.26B loan conditions satisfied; GM contributed $100M, LAC $192M to JV.
Convertible note convertible at $3.78/share, maturity April 2030; capped conversion at 43.7M shares.
Production payments: fixed $128/tonne for 72 quarters, variable 0.96% of gross revenue for life of mine.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

LITHIUM AMERICAS CORP. incurred convertible notes of $195 million with OMF Fund IV SPV M LLC (f/k/a OMF Trading IV LLC), an entity managed by Orion Resource Partners LP at 9.875% per annum maturing April 1, 2030.

Instrument: convertible notes
Principal: $195 million
Counterparty: OMF Fund IV SPV M LLC (f/k/a OMF Trading IV LLC), an entity managed by Orion Resource Partners LP
Rate: 9.875% per annum
Maturity: April 1, 2030
Event: incurrence

Exact text from the filing

In connection with the Closing on April 1, 2025 (the “Issuance Date”), the Company issued to the Investor the Convertible Note in the total original principal amount of $195 million.

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Source: SEC EDGAR

accession 0001193125-25-074679

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