05:23 PM EDT, 04/17/2024 (MT Newswires) -- Lithium Americas ( LAC ) was last seen down 16% in US after-hours trading after the company said it plans to sell, 55-million of in a bought-deal public offering.

The company did not disclose a price for the shares on offer, nor the amount it expects to raise in the sale.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the it may be completed, or as to the actual size or terms. Lithium Americas ( LAC ) also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the common shares, it said.

The company's shares closed up C$0.21 to C$9.16 on the Toronto Stock Exchange.