On November 19, Glonghui reported that the usa mining company piedmont lithium and Australia’s Sayona Mining announced on Tuesday that the two companies will merge to form a new lithium business company, with Sayona becoming the parent company of the new entity. The new company will be owned 50% by the shareholders of both companies. Piedmont will undertake a proposed capital increase of 27 million dollars, while Sayona will conduct a capital increase of 40 million australian dollars (approximately 25.99 million dollars). The estimated market cap of the merged entity will reach 0.623 billion dollars. The merger still needs to be approved by the company's shareholders, and the trade is expected to be completed in the first half of 2025.