HHG Capital announced today that it has entered into a definitive merger agreement with Perfect Hexagon Group Limited, which is engaged in precious metals commodities trading.
PH is a physical commodity trading house focusing on precious metal and base metals. PH began partnering with some of the world’s largest commodity trading houses in 2014 with which it collaborated to generate large volumes of global and physical trade flows, according to a press release.
PH also focuses on market making and trading of various types of physical commodities, including precious metals, palm oil and carbon credits. It has a broad base of suppliers and customers, which include banks and international financial institutions.
If the deal is approved as expected in the fourth quarter, Perfect Hexagon Holdings Limited would list on the Nasdaq under the symbol PHGL.
HHG currently holds approximately $35 million in trust and intends to supplement the cash with a PIPE.
PH’s management team projects that current PH equity holders will roll 100% of their equity interests into the combined company. The co-founders of PH will be under a lock-up for 12 months from the closing of the transaction. Read more.
