Metals Acquisition regisgtered to offer 25 million units at $10 each. A unit consists of one Class A ordinary share and one-third of one redeemable warrant; whole warrants exercisable at $11.50.
The new SPAC will target green-economy-focused metals and mining businesses in high quality, stable jurisdictions.
Metals Acquisition is led by CEO and Director Michael James McMullen, who most recently served as CEO and president of Detour Gold Corporation.
Citigroup is sole book-running manager of the offering. The underwriter has a 45-day option to purchase up to 3.75 additional units to cover any over-allotments.
The SPAC intends to apply for a listing on the NYSE under MTAL.U. Read more.
