Welsbach Technology Metals Acquisition (NASDAQ: WTMA) announced that it has signed a non-binding letter of intent for a business combination with a target in the critical materials space.
The transaction structure is yet to be determined based on the due diligence findings.
Welsbach in June called off a merger with WaveTech Group by mutual agreement.
Redemptions ahead of an extension vote in March wiped out more than half the SPAC’s trust. Welsbach as of June had about $37.7 million in trust.
The SPAC raised $75 million in a December 2021 IPO. Read more.
