American Acquisition Opportunity in an 8-K today said its shareholders voted in favor of combining with Indiana-based Royalty Management.
Of the 3,074,568 shares outstanding, the SPAC said 221,643 shares were redeemed. The filing did not include a timeline for when the deal might close.
American Acquisition in a separate 8-K filing disclosed that there is uncertainty the Nasdaq will have completed its review of the company’s listing application in connection with its merger to permit trading in the combined company’s securities upon closing of the transaction, which must occur no later than tomorrow, Oct. 31. The SPAC said it is in active discussions with the Nasdaq staff as well as with alternative exchanges as additional options for a trading market.
Royalty focuses on current revenue streams through undervalued resources that fit the modern infrastructure market while making investments in assets that fit tomorrow’s electrification, mineral resources and infrastructure needs.
At announcement in June 2022, the business combination valued Royalty at an implied $111 million pro forma enterprise value, excluding redemptions. Read more.
