(Arcadium Lithium, 4.Jan.2023) — Arcadium Lithium plc (NYSE: ALTM, ASX: LTM) announced the completion of the all-stock merger of equals between Allkem and Livent. The new, combined company is a leading global lithium chemicals producer committed to safely and responsibly harnessing the power of lithium to improve people’s lives and accelerate the transition to a clean energy future. With roughly U.S. $1.9bn of combined total revenue in 2022 and a global team of more than 2,600 employees, Arcadium Lithium is one of the largest integrated producers of lithium chemicals in the world.
Combination Creates a Leading Global Integrated Lithium Chemicals Producer
Key Strengths
- Leading global lithium chemicals producer with the resources, scale and expertise to meet growing customer and industry needs − reliably, safely and responsibly.
- Premier lithium resources and manufacturing sites in key locations globally across the lithium value chain.
- Highly complementary assets and vertically integrated business model focused on enhancing operational flexibility and predictability while lowering costs.
- Ability to de-risk and accelerate growth with a world-class pipeline of development projects, proven execution capabilities and technical, capital and projects expertise.
- Leading sustainability profile, with an unwavering commitment to continuous improvement, decarbonization and delivering greater value to customers, employees, communities and shareholders.
Paul Graves, Chief Executive Officer of Arcadium Lithium, said: “As one of the leading global producers of lithium chemicals, Arcadium Lithium has the resources, scale and expertise to meet the growing needs of our rapidly changing industry. We are a leader in every major lithium extraction process – from hard rock mining to conventional pond and DLE-based brine processing – and vertically integrated, from resource to chemical manufacturing, in strategic locations around the world. This will open doors to new opportunities and strengthen our ability to deliver value to our customers, investors, employees and communities.”
Mr. Graves continued: “It is a privilege for me to lead this great company forward with such an incredible team. This transformational merger would not have been possible without the hard work and commitment of our integration planning teams over the past months. I want to thank them and all of our employees around the world for getting us to this position. Together, we are launching an exciting new company that combines the strengths and storied legacies of two incredible organizations, both with an wavering commitment to safe, responsible and sustainable operations. We look forward to building on this strong foundation and leading our industry forward.”
Arcadium Lithium ordinary shares will begin trading today on the NYSE under the ticker “ALTM.” Arcadium Lithium also maintains a foreign exempt listing on the ASX (via the issue of CHESS Depositary Instruments (CDIs) to Allkem shareholders) and will commence trading on a normal settlement basis on the ASX under the ticker “LTM” at 10:00am (AEDT) on 5 Jan. 2024. Allkem shareholders received either: (a) one Arcadium Lithium ASX listed CDI; or (b) one Arcadium Lithium NYSE listed share depending where they resided and what election (if any) they had made for each Allkem ordinary share held, except for shareholders in certain ineligible jurisdictions, who will receive cash proceeds from the sale of the Arcadium Lithium CDIs in lieu of such CDIs after closing. Livent shareholders received 2.406 Arcadium Lithium NYSE listed ordinary shares for each Livent share held.
Arcadium Lithium will have approximately 1,074 million ordinary shares outstanding upon closing.
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