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Seaport Global Acquisition II Corp. - $SGIIU STOCK NEWS

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Rhea-AI Summary
Seaport Global Acquisition II Corp. (Nasdaq: SGII) announces the final per share redemption value for its Class A redeemable shares, redeeming all outstanding shares at a per-share redemption price of $10.835. The Company intends to dissolve and liquidate in accordance with the provisions of the Amended Charter.
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Seaport Global Acquisition II Corp. (SGII) terminates merger agreement with American Battery Materials, Inc. and announces dissolution and liquidation. The company will redeem outstanding shares at a per-share redemption price of approximately $10.78. The Nasdaq is expected to delist the company's securities.
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Seaport Global Acquisition II Corp. and American Battery Materials have entered into a definitive merger agreement for a business combination. The combined company is expected to be renamed 'American Battery Materials Holdings' and listed on Nasdaq. The estimated post-transaction enterprise value is $225 million. ABM focuses on environmentally friendly direct lithium extraction (DLE) and aims to become a leading provider of domestically sourced lithium critical to the global energy transition. The transaction is expected to close in Q4 2023.
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Seaport Global Acquisition II Corp.

Nasdaq:SGIIU

SGIIU Rankings

SGIIU Stock Data

2.96M
10.74%
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United States
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