American Acquisition Opportunity announced that it has closed the acquisition of Royalty Management.
The resulting company will continue to be based in Fishers, Indiana. Royalty Management’s application with Nasdaq is still pending and the Class A common stock and warrants are continuing to trade under the SPAc’s ticker symbols, AMAO and AMAOW. Effective with the completion of the transaction, all outstanding units were automatically separated.
The combined company 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.
The SPAC’s shareholders voted Monday in favor of the deal. Of the 3,074,568 shares outstanding, the SPAC said 221,643 shares were redeemed. Read more.
