Metals Acquisition priced its IPO of 25 million units at $10 each.
Units begin trading today on the NYSE under MTAL.U. Each consists of one share and one-third of one redeemable warrant. Whole warrants are exercisable for a share at $11.50. Once the units begin separate trading shares and warrants will list under MTAL and MTAL WS.
The SPAC intends to focus on upstream or downstream metals and mining assets/businesses in stable jurisdictions with exposure to green-economy commodities or precious metals.
Citigroup is sole book-running manager. The underwriters have an over-allotment option to purchase up to 3.75 million additional units. Read more.
