WELSBACH TECH METALS ACQU CORP Stock Price, News & Analysis

The SEC has declared effective the Form S-4 registration statement for the business combination between Welsbach Technology Metals Acquisition Corp. (WTMA) and Evolution Metals LLC (EM). The merged entity will be renamed Evolution Metals & Technologies Corp. (EM&T) and plans to trade on Nasdaq under the symbol EMAT.

The combined company will acquire 100% interest in five operating companies and focus on creating an integrated critical minerals and materials (CMM) supply chain independent of China. EM&T will leverage advanced technologies including robotics and AI for CMM recycling and processing, serving industries such as automotive, aerospace, defense, healthcare, and renewable energy.

Evolution Metals and Welsbach Technology Metals Acquisition Corp (NASDAQ: WTMA) announced filing a Form S-4 registration statement with the SEC regarding their proposed business combination. The merger aims to create Evolution Metals & Technologies Corp (EM&T), focusing on strengthening the critical metals and materials supply chain through midstream processing capacity. The plan involves acquiring five operating companies across the US and Korea, specializing in battery recycling, metals processing, and magnet production. The deal includes a $500 million anchor equity investment and a $6.2 billion debt facility to support expansion plans.

Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) and Evolution Metals (EM) have entered into a Term Sheet with Broughton Capital Group (BCG) for a significant investment deal. BCG will provide a $500 million PIPE Anchor Equity Investment and a $6.2 billion Debt Facility to Evolution Metals & Technologies Corp. (EM&T), the entity resulting from the business combination of WTMA and EM. The deal values EM&T at a $6.2 billion pre-money enterprise valuation.

The investment aims to support EM&T's expansion of its critical materials supply chain, including e-scrap recycling, magnet production, and refining operations in the US and South Korea. This strategic partnership is designed to reduce dependency on Chinese supply chains for critical materials essential for EVs, renewable energy, and defense applications.

Welsbach Technology Metals Acquisition Corp. (WTMAU) has extended its deadline to complete a Business Combination until June 30, 2025. This decision was made during a special stockholders' meeting held on June 28, 2024.

The extension allows the company more time to merge, exchange shares, acquire assets, or reorganize with another business. Stockholders approved two key proposals: the Charter Amendment Proposal and the Trust Amendment Proposal, both enabling the extension without needing additional contributions to the trust account.

Approximately 83.541% of the company’s 4,456,827 common shares were represented, either in person or by proxy, at the meeting. The Adjournment Proposal was not presented as there were enough votes to approve the other proposals.

This announcement does not entail any offer to sell or buy securities and adheres to all applicable laws and regulations.

Welsbach Technology Metals Acquisition Corp. (WTMA) has announced a merger agreement with Evolution Metals (EM), aiming to create a secure global supply chain for critical minerals and materials using advanced technologies. This includes the beneficiation and refining of various oxides and metals, as well as the manufacturing of bonded and sintered magnet products essential for batteries and rare earth magnets. The combined company will focus on mid-stream and downstream processes to support the automotive, aerospace, and defense industries, integrating AI and robotics to enhance efficiency. Additionally, WTMA filed a proxy statement seeking approval to extend the deadline for business combination completion to June 30, 2025, and entered into non-redemption agreements with shareholders to retain funds in its trust account.