Standard Lithium Ltd. announced a public offering of 29,885,057 common shares on October 16, 2025, at a price of US$4.35 per share. The offering was made under an underwriting agreement dated the same day, with Evercore Group L.L.C. and Morgan Stanley & Co. LLC acting as co-lead underwriters. In Canada, the syndicate included Morgan Stanley Canada Limited, BMO Nesbitt Burns Inc., Raymond James Ltd., and Canaccord Genuity Corp.; in the United States, it included Evercore Group L.L.C., Morgan Stanley & Co. LLC, BMO Capital Markets Corp., Raymond James & Associates, Inc., Roth Capital Partners, LLC, Stifel, Nicolaus & Company, Incorporated, and Canaccord Genuity LLC.

The offering closed on October 20, 2025, raising gross proceeds of approximately US$130 million (C$183.4 million). The underwriters received a 6.0% fee, totaling US$7.8 million (C$11 million), resulting in estimated net proceeds of US$122.2 million (C$172.3 million) before expenses. Standard Lithium granted the underwriters an over-allotment option for up to 4,482,758 additional shares.

Legal counsel for Standard Lithium included Cassels Brock & Blackwell LLP (Canada) and Skadden, Arps, Slate, Meagher & Flom LLP (U.S.), while DLA Piper (Canada) LLP and Latham & Watkins LLP (U.S.) advised the underwriters. Net proceeds will be used for capital expenditures at the South West Arkansas and Franklin Projects, working capital, and general corporate purposes.