PE-backed Lithium Royalty closes IPO on Toronto Stock Exchange

• The company sold 8,824,000 common shares at an offering price of C$17 per share, for total gross proceeds of about C$150 million
• Lithium Royalty now trades on the exchange under the ticker symbol “LIRC”
• The lead underwriters were Canaccord Genuity and Citigroup Global Markets Canada

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

The company sold 8,824,000 common shares at an offering price of C$17 per share, for total gross proceeds of about C$150 million. Lithium Royalty now trades on the exchange under the ticker symbol “LIRC.”

The underwriters have been granted an over-allotment option to purchase up to an additional 1,323,600 common shares at a price of C$17 per share, for additional gross proceeds of about C$22.5 million if the option is exercised in full.

The lead underwriters were Canaccord Genuity and Citigroup Global Markets Canada. Other underwriters included TD Securities, Cormark Securities, National Bank Financial, BMO Capital Markets, Scotiabank, Raymond James and Red Cloud Securities.

Lithium Royalty’s shareholders include US private equity firm Riverstone Holdings.