EQUITY

6 Months Ended

Dec. 31, 2021

Equity [Abstract]

EQUITY

EQUITY

Pursuant to the Redomiciliation, holders of Piedmont Australia’s ordinary shares received one (1) CDI in Piedmont Lithium Inc. for each ordinary share held in Piedmont Australia on the Redomiciliation record date; and holders of ADSs in Piedmont Australia received one (1) share of common stock of Piedmont Lithium Inc. for each ADS held in Piedmont Australia on the Redomiciliation record date with each ADS representing 100 Piedmont Australia ordinary shares.

On the effective date of the Redomiciliation, the number or ordinary outstanding shares was reduced from 1,574,597,320 to 15,764,533 shares of common stock. All share and per share amounts in these consolidated financial statements and related notes for periods prior to the Redomiciliation have been retroactively adjusted to reflect the effect of the exchange ratio.

We are authorized to issue up to 100,000,000 shares of common stock, par value $0.0001 per share, and 10,000,000 shares of preferred stock, par value $0.0001 per share. We have no outstanding shares of preferred stock.

Equity Transactions During the Six Months Ended December 31, 2021

On September 24, 2021, we filed a $500 million automatic shelf registration statement with the SEC to provide us with capacity to publicly offer, common stock, preferred stock, warrants, debt, convertible or exchangeable securities, depositary shares, or units, or any combination thereof. We may from time to time raise capital under our shelf registration statement in amounts, at prices, and on terms to be announced when and if any securities are offered. The shelf registration statement expires on September 24, 2024. As of December 31, 2021, we have not utilized the shelf registration statement for any equity or debt financings.

Equity Transactions During the Year Ended June 30, 2021

In August 2020, we issued 1,200,000 shares at a weighted-average issue price of AUD 9.00(1). In October 2020, we issued 2,300,000 shares with a weighted-average issue price of $25.00. In March 2021, we issued 1,750,000 shares with a weighted-average issue price of $70.00. Share issuance costs associated with the Australia share placements and U.S. public offerings totaled $12,819,429 and were accounted for as a reduction in the proceeds from share issuances in the consolidated balance sheets.

Equity Transactions During the Year Ended June 30, 2020

In July 2019, we issued 1,450,000 shares with a weighted-average issue price of AUD 14.50(1). In June 2020, we issued 2,065,000 shares with a weighted-average issue price of $6.30. Share issuance costs associated with the Australia share placements and U.S. public offerings totaled $2,326,270 and were accounted for as a reduction in the proceeds from share issuances in the consolidated balance sheets.

Equity Transactions During the Year Ended June 30, 2019

In December 2018, we issued 1,075,909 shares with a weighted-average issue price of AUD 11.00(1). In February 2019, we issued 34,091 shares with a weighted-average issue price of AUD 11.00(1). Share issuance costs associated with the Australia share placements and U.S. public offerings totaled 509,865 and were accounted for as a reduction in the proceeds from share issuances in the consolidated balance sheets.

___________________________________________________________________________

(1)The weighted-average issue price in Australian dollars (AUD) were on share issuances that were initiated in Australian dollars and translated into U.S. dollars at historical rates.