Why Sigma Lithium Corporation (SGML) stock plummeted in the after-hours on Friday?

Sigma Lithium Corporation (SGML) shares plummeted 6.62% in after-hours on Friday, December 10, 2021, and closed the daily trading at $9.45. However, in the regular trading session, SGML’s stock gained 4.65%. SGML shares have risen 403.48% over the last 12 months, and they have moved up 11.58% in the past week. Over the past three months, the stock has gained 24.94%, while over the past six months, it has jumped 104.89%.

Let’s a look at its recent news and developments.

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SGML private placement of common shares

On December 10, 2021, Sigma Lithium Corporation (SGML) announced its intention to complete a non-brokered private placement of approximately 5,106,383 common shares of the Company to be issued at C$11.75 per Common Share for expected aggregate gross proceeds of approximately C$60,000,000.

Update on Greentech dense media separation production plant

Sigma Lithium Corporation (SGML) commenced construction on-site to build the foundation and infrastructure installation of its Greentech dense media separation production plant, at its wholly-owned Grota do Cirilo Project.

Sigma has also secured 38 critical long-lead items required for the Project and begun ordering them from respective suppliers, placing deposits to secure manufacturing timetables.

SGML filed Form F-10 and shelf prospectus

On December 3, 2021, Sigma Lithium Corporation (SGML) filed a final short form base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada, other than the province of Quebec, and a corresponding shelf registration statement on Form F-10 under the U.S./Canada Multijurisdictional Disclosure System.

SGML highlighted at COP-26 In Glasgow

On November 19, 2021, Sigma Lithium Corporation (SGML) was highlighted at various events during COP for its pioneering practices in environmental sustainability and social impact in the communities where it operates at Vale do Jequitinhonha in Minas Gerais in Brazil, one of the regions with the lowest index of human development (IDH) in the world.

SGML agreement with LG Energy

On October 05, 2021, Sigma Lithium Corporation (SGML) signed a binding term sheet for an off take agreement on a “take or pay” basis for the sale of 6% battery-grade high purity and environmentally sustainable lithium concentrate to LG Energy Solution, Ltd (LGES), one of the world’s largest manufacturers of advanced lithium-ion batteries for electric vehicles.

Conclusion

Due to the private placement of common stock, Sigma’s share price went down in the after-hours on Friday. we hope that it will commence the new week in a positive mode.

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