Lithium Americas Corp. announced on 2025‑10‑08 that it had finalized amendments to its $2.23 billion loan from the U.S. Department of Energy (DOE) for the Thacker Pass lithium project. The amendments, which will take effect once customary conditions are satisfied, include a deferral of scheduled debt service and the issuance of warrants for LAC, the joint venture, and the JV units. The company also confirmed that the amendments will provide the project with additional financial flexibility as construction proceeds.
The amendment package also covers the completion of the company’s at‑the‑market (ATM) equity program, which was launched on May 15, 2025. As of October 1, 2025, the program had sold 26,921,629 common shares, generating gross proceeds of $99,999,988.75. The proceeds were used to fund ongoing development and to strengthen the project’s capital structure.
By finalizing the DOE loan amendments, Lithium Americas removes a key financing hurdle and secures a more favorable debt profile for Thacker Pass. The deferral of debt service aligns the loan’s cash‑flow requirements with the project’s construction schedule, reducing short‑term liquidity pressure. The completion of the ATM program also provides the company with additional equity capital, further de‑risking the project for future investors and lenders.
Together, these actions position Thacker Pass to advance toward mechanical completion in late 2027 and to begin commercial production of 40,000 metric tons of battery‑quality lithium carbonate per year in 2028. The combined financing package strengthens the company’s balance sheet, supports continued capital expenditures, and signals confidence from both the DOE and private investors in the viability of the U.S. lithium supply chain.
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