Lithium Americas issues $150 million convertible debentures to YA II PN
On August 13, 2026, Lithium Americas completed the initial closing of a $150.0 million subordinated convertible debenture sale to YA II PN, Ltd., with a further $25.0 million available through delayed closings at the company's option. The debentures can convert into common shares at a discount to market price, and conversion is capped at 19.99% of outstanding shares unless stockholders approve a higher limit, so the deal could dilute existing shareholders while adding funding.
Key points
- $150.0 million of debentures issued August 13, 2026 at 100% of principal, with a 5-year maturity and 5% annual interest
- Conversion price is the lower of $4.56 or 95% of the lowest five-day VWAP, with a floor of $1.63 that can fall to $0.65 in certain circumstances
- Cash principal repayments are capped at $35 million while Orion notes remain outstanding
- Remaining $25.0 million may be sold in delayed closings upon exercise of the company's put right
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 13, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.