As most of you saw this update , I am a bit confused : what GM will do with their shares in LAAC?  It's little over 9%. 
Also I m afraid that GANG will try to buy out LAC at this point. I would rather own LAAC for forceable future as they ramping up a production.

"VANCOUVER, British Columbia, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Lithium Americas Corp. (“Lithium Americas” or the “Company”), now Lithium Americas (Argentina) Corp. (“Lithium Argentina”)(TSX: LAAC) (NYSE: LAAC) and a newLithium Americas Corp. (“Lithium Americas (NewCo)”) (TSX: LAC) (NYSE: LAC) today jointly announced the completion of the reorganization of Lithium Americas into two independent publicly traded companies, implemented by way of statutory plan of arrangement (the “Separation”).

“We look forward to seeing these two market-leading companies thrive independently,” said Jonathan Evans, President and CEO of Lithium Americas (NewCo) and former President and CEO of Lithium Americas. “The Separation offers investors two unique and highly focused pure-play lithium companies with world-class assets in our respective regions of operation.”

“I am extremely proud of the Lithium Argentina and Lithium Americas (NewCo) teams for their hard work and dedication in redesigning these companies with the right management teams and resources to flourish independently,” said John Kanellitsas, Executive Chairman, President and Interim CEO of Lithium Argentina and former Executive Vice Chair of Lithium Americas. “The closing of this Separation is a pivotal moment in allowing each company to sharpen its focus and pursue independent and unique growth opportunities within the lithium industry.”

As of close of trading on Tuesday, October 3, 2023 (the “Effective Date”), common shares of Lithium Americas (“Lithium Americas Shares”) have concluded regular-way trading on the Toronto Stock Exchange (“TSX”) and New York Stock Exchange (“NYSE”) under the symbol “LAC,” and Lithium Argentina common shares (“Lithium Argentina Shares”) and Lithium Americas (NewCo) common shares (“Lithium Americas (NewCo) Shares”) have concluded trading on a “when-issued” basis on the NYSE.

At the start of trading on Wednesday, October 4, 2023, Lithium Argentina Shares and Lithium Americas (NewCo) Shares will commence trading on the TSX and NYSE on a regular-way basis under the ticker symbols “LAAC” and “LAC,” respectively.

REGISTERED SHAREHOLDERS

Registered shareholders of Lithium Americas (“LAC Registered Shareholders”) are reminded to submit their certificates or direct registration statements (“DR Statements”) representing their Lithium Americas Shares with a duly completed letter of transmittal (“Letter of Transmittal”) to Computershare Investor Services Inc., as depositary, in order to receive DR Statements representing their Lithium Argentina Shares and Lithium Americas (NewCo) Shares. The Letter of Transmittal is filed on Lithium Argentina’s SEDAR profile (www.sedarplus.ca).

LAC Registered Shareholders who fail to submit their certificates or DR Statements and their Letter of Transmittals on or before October 3, 2026, the third anniversary of the Effective Date of the Separation, will cease to have any right or claim against or interest of any kind or nature in Lithium Argentina or Lithium Americas (NewCo). Accordingly, persons who tender certificates or DR Statements for Lithium Americas Shares after October 3, 2026 will not receive any Lithium Argentina Shares or Lithium Americas (NewCo) Shares, will not own any interest in Lithium Argentina or Lithium Americas (NewCo) and will not be paid any cash or other compensation in lieu thereof.

GM TRANSACTION – LITHIUM AMERICAS (NEWCO)

Upon completion of the Separation, General Motors Holdings LLC (“GM”) executed a second tranche subscription agreement (pursuant to which GM will, subject to the fulfillment of certain conditions precedent, purchase US$329,852,134.38 in Lithium Americas (NewCo) Shares). GM also executed an investor rights agreement with Lithium Americas (NewCo) and GM’s offtake agreement with the Company was assigned to Lithium Americas (NewCo). The second tranche alternative exercise warrants previously issued to GM by the Company and the second tranche subscription agreement between GM and the Company are no longer effective in accordance with the terms of those agreements. GM is the largest shareholder of both Lithium Americas (NewCo) and Lithium Argentina with approximately 9.4% of the shares of each company.