PE-backed Lithium Royalty launches IPO on Toronto Stock Exchange

• Lithium Royalty’s existing investors include US private equity firm Riverstone Holdings
• Proceeds from the IPO will be used for the acquisition of royalties, to repay shareholder notes, to pay contingent royalty obligations and for other general corporate purposes
• The company has a portfolio of 29 royalties on mineral properties around the world

Lithium Royalty Corp, a Toronto-based lithium-focused royalty business, has launched an initial public offering of its common shares on the Toronto Stock Exchange.

The company has priced the offering at C$16 to C$19 per share, to realize gross proceeds of about C$150 million, assuming no exercise of an over-allotment option to purchase up to an additional 15 percent of shares.

Net proceeds from the offering will be used by Lithium Royalty for the acquisition of royalties, to repay shareholder notes, to pay contingent royalty obligations and for other general corporate purposes.

Lithium Royalty has a portfolio of 29 royalties on mineral properties around the world that supply and are expected to supply raw materials to support the electrification of transportation and decarbonization of the global economy. The portfolio is focused on high-grade and low-cost mineral projects that are primarily located in Australia, Canada, South America and the US.

Lithium Royalty’s existing investors include US private equity firm Riverstone Holdings. In 2021, Riverstone participated in a $71 investment in the business.