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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 16, 2023

 

PIEDMONT LITHIUM INC.

(Exact name of registrant as specified in its charter)

 

Registrant’s Telephone Number, Including Area Code: (704) 461-8000

 

(Former Name or Former Address, if Changed Since Last Report): Not Applicable

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Securities registered pursuant to Section 12(b) of the Act:

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

 

Emerging Growth Company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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On February 16, 2023, Piedmont Lithium Inc. (the “Company”) entered into a Subscription Agreement (the “Subscription Agreement”) with LG Chem, Ltd. (“LGC”).  Pursuant to the Subscription Agreement, the Company has agreed to sell to LGC 1,096,535 common shares of the Company (representing approximately 5.7% of the Company’s outstanding common shares) at a price of $68.40 per share.  The transaction is expected to close on or about February 24, 2023 and remains subject to customary closing conditions. The Piedmont shares will be issued in reliance upon the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended.  A summary of the terms of the Subscription Agreement is included in the Company’s press release attached as Exhibit 99.1 hereto, which hereby is incorporated by reference in this Item 3.02.

 

 

Also on February 16, 2023, the Company entered into an Offtake Agreement with LGC.  A summary of the terms of the Offtake Agreement is included in the Company’s press release attached as Exhibit 99.1 hereto, which hereby is incorporated by reference in this Item 8.01.

 

 

(d) Exhibits.

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

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