So let's assume debt to equity is 50% subject to an interested...

So let's assume debt to equity is 50% subject to an interested party (equity preferably and/or offtake) coming on board representing an assumed valuation of $300m.

Lithium coy then requires to raise $150m from shareholders and maybe the equity partner at an issue price of say 50 cents.

this basically represents 1 new share for every 2.66 shares held in FXX

Existing shareholders will be given the first right to buy new shares through the prospectus.
Then the balance will go to the public.

I estimate total new shares on issue in Lithium Coy to be around 600 million at 50 cents. Obviously numbers will change depending on the issue price