Livent Corporation (NYSE:LTHM) agreed to acquire a 25% stake in Nemaska Lithium Inc. from The Pallinghurst Group for approximately $370 million on May 2, 2022. As consideration, Livent will issue 17,500,000 shares of its common stock to The Pallinghurst Group ("Pallinghurst") and its investors. Livent USA Corp., a wholly-owned subsidiary of Livent, already owns 25% of Nemaska Lithium. The transaction will fully settle all financial obligations of Livent towards Pallinghurst. Investissement Québec ("IQ") will remain the owner of the remaining 50% interest in Nemaska. The closing of the transaction is subject to customary conditions, including, among other things, the expiration of certain notice periods required by applicable law. Transaction is expected to close in 30 to 45 days. William H. Aaronson and Cheryl Chan of Davis Polk & Wardwell LLP aced as legal advisor to Livent. Melanie A. Shishler of Davies Ward Phillips & Vineberg LLP acted as legal advisor to Pallinghurst.

Livent Corporation (NYSE:LTHM) completed the acquisition of 25% stake in Nemaska Lithium Inc. from The Pallinghurst Group on June 6, 2022.