NEWS

Allens advises Liontown on $490 million equity raising

Allens has advised Liontown Resources on its $490 million equity raising to fund the development of the Kathleen Valley Lithium Project.

The raising comprises a fully underwritten $450 million institutional placement and non-underwritten $40m share purchase plan.

'This is a landmark equity raising for Liontown which underpins the development of a world-class, long-life, Australian battery minerals hub,' said lead Partner Bryn Hardcastle.

The raising puts the company in a strong position to finalise discussions with offtake partners and commercial lenders, order long-lead items, and accelerate towards first production in 2024 when significant global supply deficits for lithium are forecast to emerge.

'It has been a pleasure to support Liontown in the execution of its strategy to be an ESG-leader and globally significant provider of battery materials.'

This transaction caps a successful year for the Allens ECM team in Perth, having advised issuers on a variety of capital raises, IPOs and RTOs, with combined capital raised in excess of $1 billion. Mr Hardcastle said 'We joined the Allens corporate M&A practice in February this year, with a strategy to continue to expand our ECM footprint, and to demonstrate to the market both the Allens capacity and our commitment to support the full arc of the Perth corporate market. The immediate successes have exceeded our expectations.'

Allens legal team

Corporate

Bryn Hardcastle (Partner), Alexandra Meade (Senior Associate), Nick Harrison (Associate), Cassandra Lee (Lawyer)

Notes for editors.

Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.