American Battery Materials to go public via a SPAC merger with Seaport Global Acquisition II in a $225m deal.

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.