Arcadium Lithium plc has officially announced the successful completion of an all-stock merger of equals between Allkem and Livent. This transformative merger has given rise to a new, consolidated entity, positioning itself as a prominent global lithium chemicals producer. The company is steadfast in its commitment to harnessing the potential of lithium responsibly and safely, contributing to societal betterment and fostering the transition toward a cleaner energy future. Arcadium Lithium, now a major player in the industry, boasts a combined total revenue of approximately U.S. $1.9 billion in 2022 and a workforce exceeding 2,600 employees, solidifying its status as one of the largest integrated lithium chemicals producers globally.

Paul Graves, the Chief Executive Officer of Arcadium Lithium, expressed his enthusiasm for the milestone, emphasizing the company's readiness to meet the evolving needs of the rapidly changing industry. Graves highlighted Arcadium Lithium's leadership across various lithium extraction processes, including hard rock mining, conventional pond, and direct lithium extraction (DLE)-based brine processing. Additionally, he underscored the company's vertical integration, spanning from resource extraction to chemical manufacturing, strategically positioned across the globe. This strategic positioning is expected to unlock new possibilities and fortify the company's capability to deliver value to customers, investors, employees, and communities.

Graves commended the dedicated teams involved in the integration planning process, acknowledging their hard work and commitment over the past months. He extended gratitude to all employees globally, recognizing their role in bringing the company to its present position. Graves expressed his privilege in leading the newly formed company, which combines the strengths and legacies of two remarkable organizations, both committed to safe, responsible, and sustainable operations. He articulated the company's anticipation of building upon this strong foundation and spearheading advancements within the industry.

Arcadium Lithium ordinary shares have commenced trading on the NYSE under the ticker "ALTM." The company also maintains a foreign exempt listing on the ASX through the issuance of CHESS Depositary Instruments (CDIs) to Allkem shareholders. Trading on the ASX under the ticker "LTM" began on January 5, 2024, on a normal settlement basis. Shareholders of Allkem received either an Arcadium Lithium ASX listed CDI or an Arcadium Lithium NYSE listed share based on their residence and election, if any, for each Allkem ordinary share held. Shareholders in certain ineligible jurisdictions will receive cash proceeds from the sale of Arcadium Lithium CDIs in lieu of such CDIs post-closing. Livent shareholders, on the other hand, received 2.406 Arcadium Lithium NYSE listed ordinary shares for each Livent share held.

Upon the completion of the merger, Arcadium Lithium now has approximately 1,074 million ordinary shares outstanding. The company stands as a key player in the lithium sector, aligning its operations with a commitment to safety, responsibility, and sustainability. As a leading global lithium chemicals producer, Arcadium Lithium collaborates with customers to drive innovation and contribute to a more sustainable world. The company's vertically integrated approach, spanning lithium extraction processes and high-performance lithium chemicals manufacturing, is reflected in its operations across Argentina, Australia, Canada, China, Japan, the United Kingdom, and the United States.

 

Source:chemanalyst.com

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