Rigel Resource Acquisition priced 27.5 million units in its IPO, an upsize of 2.5 million more units than expected.
Units begin trading on the NYSE today under RRAC.U. Each is comprised of one share and one-half of a warrant.
After the securities begin separate trading, shares and warrants are expected to list under RRAC and RRAC WS.
The offering is expected to close Nov. 9.
Rigel Resource is focused on the global metals value chain, including “green” or battery metals and industrial minerals, mining operators and ancillary service providers delivering innovative mineral processing technologies, or battery mineral technologies.
Goldman Sachs is sole book-running manager for the offering. The underwriters have an option to purchase up to an additional 4.125 million units to cover over-allotments, if any. Read more.
