Livent $261.6 million stock offering
Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with an SEC-registered offering of common stock by Livent Corporation. Livent sold 14,950,000 shares of common stock, including shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, for total gross proceeds of approximately $261.6 million. The common stock is listed on the New York Stock Exchange under the symbol "LTHM."
Livent is a leading global performance lithium compound producer and has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy and specialized innovations, including light alloys and lubricants. The company employs approximately 800 people and operates manufacturing sites in the United States, England, India, China and Argentina.
The Davis Polk corporate team included partner Michael Kaplan and associates Andrew Rowe and Saratu M. Kitchener. The tax team included partner Mario J. Verdolini and associate Benjamin Helfgott. Partner Pritesh P. Shah and associate Daniel P. Kearney provided intellectual property advice. Counsel Michael Comstock provided environmental advice. Counsel Charles Shi provided executive compensation advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and London offices.