GX Acquisition II today filed an investor presentation highlighting its proposed merger with NioCorp Developments, a mineral mining company. The deal values the combined entity at an estimated enterprise value of $313.5 million.
Announced last month, terms call for NioCorp to acquire the SPAC and list on the Nasdaq following closing, which is expected in the first quarter of 2023. NioCorp shares will also continue to trade on the Toronto Stock Exchange.
Assuming no redemptions by the SPAC’s shareholders, upon deal close the combined entity could have as much as $285 million in net cash.
NioCorp is developing a critical minerals project in Southeast Nebraska that will produce niobium, scandium, and titanium. The company also is evaluating the potential to produce several rare earths from the project. Read more.
