12:54 PM EDT, 04/22/2024 (MT Newswires) -- Lithium Americas ( LAC ) said Monday that it has closed its underwritten public offering of 55 million shares at $5 each for gross proceeds of $275 million.

The lithium resource company said it will use the net proceeds to fund the construction and development of its Thacker Pass lithium project in Nevada.

Shares of Lithium Americas ( LAC ) were up more than 1% in recent trading.