Kirkland Advises Constellation Acquisition Corp I on Combination with HiTech Materials Inc.

Kirkland & Ellis advised special purpose acquisition company Constellation Acquisition Corp I (OTC: CSTA) and its sponsor Antarctica Capital, LLC on a definitive business combination agreement with HiTech Materials Inc., a U.S.-based subsidiary of Australian public company Jindalee Lithium Limited (ASX: JLL) focused on exploring and developing the McDermitt Lithium Project, centered around one of the largest lithium deposits in the United States and located on the Nevada & Oregon border. The transaction implies a pro forma enterprise value of approximately $571 million and will result in a newly formed U.S. lithium development company (US Elemental Inc.) that is expected to be publicly listed on Nasdaq under the ticker "ULIT" and will hold all assets currently owned by HiTech Minerals Inc.

Read the transaction press release

The Kirkland team included corporate lawyers Lauren Colasacco, Monica Ruiz, John McKelvey and Marina Bredin; capital markets lawyers Peter Seligson, Mathieu Kohmann and Aaron Simons; tax lawyers Vivek Ratnam, Benjamin Schreiner and Giebien Na; and environmental transaction lawyers Michael Saretsky, Courtney Tibbetts and Brynn Furey.