Announced
Financials
Tags
minerals exploration
lithium extraction
Diversified Materials
United States
Acquisition
Merger
Domestic
Reverse Takeover
De-SPAC
Majority
Pending
Single Bidder
Friendly
Private
Synopsis
American Battery Materials, a minerals exploration and development company, agreed to go public via a SPAC merger with Seaport Global Acquisition II, a publicly-listed special purpose acquisition company, in a $225m deal. “Demand for lithium is far outpacing supply, with the US producing less than 5% of the world’s lithium. Combining with SGII and listing on Nasdaq will allow us to accelerate our lithium and critical minerals extraction projects in Utah and potentially beyond to capitalize on the attractive opportunity as the world increasingly shifts towards electrification,” Sebastian Lux, ABM Co-CEO.
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