Lithium Americas falls on $1 billion mixed shelf offering

U.S.-listed shares of Lithium Americas LAC.N, LAC.TO fall 8.5% to $2.89 premarket

Company late on Thursday filed for mixed shelf offering of about $1 billion

LAC plans to use proceeds from share offerings to finance capital expenditures, repay debt and for other general purposes

*Separately, company entered in an equity distribution agreement with TD Securities to sell up to $100 mln of its common shares

*Currently, LAC has a market cap of $691 million and 218.7 million outstanding shares

Company on Thursday posted a Q1 net loss of $11.5 million compared to a loss of $6.3 million a year ago

As of last close, shares were up 6.4% YTD