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Piedmont Lithium Limited Announces Closing of Public Offering and Full Exercise of Underwriters’ Over-Allotment Option
Piedmont Lithium Limited, (Nasdaq, ASX: PLL), today announced the closing of its previously announced underwritten public offering of 2,065,000 American Depositary Shares ("ADS"), which includes the full exercise of the underwriters’ option to purchase 265,000 additional ADSs, each ADS representing 100 of its ordinary shares, at a price per ADS to the public of US$6.30 ("Public Offering"). The aggregate gross proceeds of the Public Offering totaled approximately US$13.0 million.
Researching this now. I understand that one share of PLLLY on the OTC is the equivalent of 100 shares of their same stock on the Australian Exchange (ASX)