RCF Acquisition said shareholders have approved up to a one-year deadline extension until May 15, 2024.
Redemptions ahead of the vote left approximately $136.7 million in the SPAC’s trust, according to a press release. The SPAC raised $200 million in a November 2021 IPO. RCF Acquisition is targeting businesses of scale across the critical minerals value chain.
The SPAC in March said it had signed a non-binding letter of intent for a business combination with a company in the critical minerals sector. RCF said it “continues to work diligently” toward completing a business combination by the new extended date. Read more.
