secwatch.observer — SEC 8-K summary
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Issuer:     LITHIUM AMERICAS CORP. (LAC)
CIK:        0001966983
Form:       8-K
Filed at:   2025-04-07T23:59:59+00:00
Accession:  0001193125-25-074679
Event type: debt
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lithium Americas closes $250M Orion investment, achieves FID for Thacker Pass Phase 1
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1966983/000119312525074679/0001193125-25-074679-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1966983/000119312525074679/d939615d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-074679

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer