Welsbach Technology Metals Acquisition Corp. (“WTMA”) Announces Successful Approval for its Business Combination with Evolution Metals LLC (“EM”) from the Extraordinary General Meeting of Stockholders on June 26, 2025
Welsbach Technology Metals Acquisition Corp. (OTC: WTMAU) announced stockholder approval for its business combination with Evolution Metals LLC. 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 aims to establish a China-independent critical minerals and materials (CMM) supply chain through the acquisition and integration of five operating companies focused on magnet manufacturing, battery recycling, and smart machine automation. The strategy includes replicating Korean operations in Missouri to create a major industrial campus for processing batteries and e-waste.
The company has extended the deadline for stockholders to withdraw and reverse previously submitted redemption requests related to the business combination.
Welsbach Technology Metals Acquisition Corp. (OTC: WTMAU) ha annunciato l'approvazione da parte degli azionisti della fusione con Evolution Metals LLC. La società risultante dalla fusione sarà rinominata Evolution Metals & Technologies Corp. (EM&T) e prevede di quotarsi al Nasdaq con il simbolo EMAT.
La società combinata punta a creare una catena di approvvigionamento di minerali e materiali critici (CMM) indipendente dalla Cina attraverso l'acquisizione e l'integrazione di cinque aziende operative specializzate nella produzione di magneti, riciclo di batterie e automazione intelligente delle macchine. La strategia include la replicazione delle operazioni coreane nel Missouri per realizzare un grande campus industriale dedicato al trattamento di batterie e rifiuti elettronici.
La società ha prorogato la scadenza per gli azionisti che desiderano ritirare e annullare le richieste di riscatto precedentemente presentate in relazione alla fusione.
Welsbach Technology Metals Acquisition Corp. (OTC: WTMAU) anunció la aprobación por parte de los accionistas para su combinación empresarial con Evolution Metals LLC. La entidad fusionada se renombrará como Evolution Metals & Technologies Corp. (EM&T) y planea cotizar en Nasdaq bajo el símbolo EMAT.
La compañía combinada tiene como objetivo establecer una cadena de suministro de minerales y materiales críticos (CMM) independiente de China mediante la adquisición e integración de cinco empresas operativas centradas en la fabricación de imanes, reciclaje de baterías y automatización inteligente de máquinas. La estrategia incluye replicar las operaciones coreanas en Missouri para crear un gran campus industrial dedicado al procesamiento de baterías y residuos electrónicos.
La empresa ha extendido el plazo para que los accionistas retiren y anulen las solicitudes de redención previamente presentadas relacionadas con la combinación empresarial.
Welsbach Technology Metals Acquisition Corp. (OTC: WTMAU)가 Evolution Metals LLC와의 사업 합병에 대해 주주 승인을 받았다고 발표했습니다. 합병된 회사는 Evolution Metals & Technologies Corp. (EM&T)로 이름이 변경되며, 나스닥에서 EMAT라는 심볼로 거래될 예정입니다.
통합된 회사는 자석 제조, 배터리 재활용, 스마트 기계 자동화에 중점을 둔 다섯 개 운영 회사를 인수 및 통합하여 중국에 의존하지 않는 핵심 광물 및 소재(CMM) 공급망을 구축하는 것을 목표로 합니다. 이 전략에는 미주리주에 한국 운영 방식을 복제하여 배터리 및 전자 폐기물 처리용 대규모 산업 단지를 조성하는 계획이 포함되어 있습니다.
회사는 사업 합병과 관련하여 이전에 제출된 환매 요청을 철회하고 취소할 수 있는 주주들의 기한을 연장했습니다.
Welsbach Technology Metals Acquisition Corp. (OTC : WTMAU) a annoncé l'approbation des actionnaires pour sa fusion avec Evolution Metals LLC. L'entité fusionnée sera renommée Evolution Metals & Technologies Corp. (EM&T) et prévoit d'être cotée au Nasdaq sous le symbole EMAT.
La société combinée vise à établir une chaîne d'approvisionnement en minéraux et matériaux critiques (CMM) indépendante de la Chine grâce à l'acquisition et à l'intégration de cinq entreprises opérationnelles spécialisées dans la fabrication d'aimants, le recyclage des batteries et l'automatisation intelligente des machines. La stratégie inclut la reproduction des opérations coréennes dans le Missouri afin de créer un grand campus industriel dédié au traitement des batteries et des déchets électroniques.
La société a prolongé le délai permettant aux actionnaires de retirer et d'annuler les demandes de rachat précédemment soumises en lien avec la fusion.
Welsbach Technology Metals Acquisition Corp. (OTC: WTMAU) gab die Zustimmung der Aktionäre zu ihrer Unternehmenszusammenführung mit Evolution Metals LLC bekannt. Das fusionierte Unternehmen wird in Evolution Metals & Technologies Corp. (EM&T) umbenannt und plant, an der Nasdaq unter dem Symbol EMAT gehandelt zu werden.
Das kombinierte Unternehmen strebt den Aufbau einer unabhängigen Lieferkette für kritische Mineralien und Materialien (CMM) ohne China an, durch den Erwerb und die Integration von fünf operativen Unternehmen, die sich auf Magnetherstellung, Batterierecycling und intelligente Maschinenautomatisierung spezialisiert haben. Die Strategie beinhaltet die Nachbildung der koreanischen Betriebe in Missouri, um einen großen Industriekomplex für die Verarbeitung von Batterien und Elektroschrott zu schaffen.
Das Unternehmen hat die Frist für Aktionäre verlängert, um zuvor eingereichte Rücknahme- und Rückkaufsanträge im Zusammenhang mit der Unternehmenszusammenführung zurückzuziehen und rückgängig zu machen.
- Creation of a US-centered, China-independent critical minerals supply chain
- Vertical integration through acquisition of 5 operating companies in strategic sectors
- Planned expansion with new industrial campus in Missouri
- Access to critical industries including automotive, aerospace, defense, and renewable energy
- Expected uplisting to Nasdaq from OTC markets
- Complex integration process of five different operating companies
- Execution risk in replicating Korean operations in Missouri
- Potential redemption risk from SPAC shareholders
Insights
WTMA's merger approval with Evolution Metals creates a China-independent critical minerals supply chain with vertical integration advantages.
This announcement marks a significant milestone in the SPAC merger between Welsbach Technology Metals Acquisition Corp. and Evolution Metals LLC. The shareholder approval paves the way for creating Evolution Metals & Technologies Corp. (EM&T), which will trade on Nasdaq under ticker EMAT.
The strategic value proposition centers on establishing a China-independent supply chain for critical minerals and materials (CMM) - a sector with growing national security implications. The combined entity plans to acquire and integrate five operating companies across the value chain: bonded magnet manufacturing, sintered magnet manufacturing, magnet metals and alloy production, Li-ion battery recycling, and smart machine design/automation.
This vertical integration strategy positions EM&T to capture value across multiple segments of the critical materials supply chain, particularly in rare earth magnets and battery materials that are essential for high-growth industries including EVs, renewable energy, defense, and consumer electronics.
A key strategic element involves replicating Korean operations in Missouri, creating a U.S.-based industrial campus for processing batteries and e-waste into higher-value materials. This domestic production capability addresses both supply chain security concerns and potential benefits from recent legislation supporting U.S. manufacturing of strategic materials.
The extension of the deadline for stockholders to withdraw redemption requests suggests management is working to minimize cash outflows before closing - a common challenge for SPACs in the current market environment. Investors should closely monitor the final redemption figures and resulting cash position as indicators of the company's starting financial foundation.
Important milestone to bring to the US capital markets a fully integrated, fully operational critical minerals and materials (CMM) supply chain that is independent of China
Chicago, IL and St. Louis, MO, June 27, 2025 (GLOBE NEWSWIRE) -- Welsbach Technology Metals Acquisition Corp. (OTC: WTMA), a publicly traded special purpose acquisition company, today announced the successful approval from its extraordinary general meeting (“Business Combination EGM”) of stockholders for its Business Combination with Evolution Metals LLC (“EM”), dedicated to bringing to the US capital markets a secure, reliable global supply chain for critical minerals and materials (“CMM”) that is independent of China.
Through the Business Combination, WTMA and EM expect to acquire, scale and integrate five operating companies: (1) bonded magnet manufacturing; (2) sintered magnet manufacturing; (3) magnet metals and alloy production; (4) Li-ion battery recycling; and (5) smart machine design and automation. Upon closing, the combined company will be renamed Evolution Metals & Technologies Corp. (“EM&T”) and expects to trade on Nasdaq under the symbol EMAT.
EM&T’s business is to leverage advanced technologies such as robotics and artificial intelligence (AI) to provide integrated midstream and downstream CMM recycling and processing of oxides, metals, magnet alloys, battery materials, and rare earth magnets for key industries including, but not limited to, the automotive, aerospace, defense, healthcare, high tech, consumer electronics and appliances, and renewable energy industries, while driving a sustainable future.
“Today’s stockholder approval marks a transformative milestone in our journey to identify a vertically integrated and geopolitically independent supply chain for critical minerals and materials.” said Daniel Mamadou, CEO of WTMA. “Our merger with Evolution Metals represents not only a strategic alignment of values and vision, but also a decisive step toward delivering long-term value for our stakeholders. We are proud to join forces with Evolution Metals, who shares our commitment to sustainability, innovation, and industrial resilience in an increasingly complex global environment.”
David Wilcox, Managing Member of Evolution Metals LLC, added: “This is an exciting moment for Evolution Metals and our partners. Upon the completion of our merger with WTMA, we we intend to accelerate our mission to create a secure, U.S.-centered supply chain for critical materials vital to clean energy, advanced manufacturing, and national defense. By vertically integrating a supply chain of critical materials production, we bring together complementary strengths and operational capabilities that position us to lead in an era where independence and supply chain security are more important than ever. Our plans are to replicate the Korean operations we expect to acquire into Missouri, creating a major industrial campus. We expect to fully process batteries and e-waste into salts, magnets and related materials – a dominant U.S. Champion in the mid-stream.”
In addition, WTMA today announced that WTMA is extending the deadline for its stockholders to withdraw and reverse any previously delivered demand for redemption made in connection with the Business Combination EGM until WTMA determines not to accept reversals of redemption instructions. If a stockholder has previously submitted a request to redeem its shares in connection with the Business Combination EGM and would like to reverse such request, such stockholder may contact WTMA’s transfer agent, Continental Stock Transfer & Trust Company, at spacredemptions@continentalstock.com.
You can find further information regarding the Business Combination and related matters in WTMA’s filings with the US Securities Exchange Commission (“SEC”), including the Registration Statement on Form S-4. These filings are available on the SEC website: https://www.sec.gov/edgar/search/#/q=wtma.
About Welsbach Technology Metals Acquisition Corp.
Welsbach Technology Metals Acquisition Corp. (OTC: WTMA) is a blank check company focused on identifying high-impact technology metals businesses aligned with global sustainability and security trends.
About Evolution Metals LLC
Evolution Metals LLC is committed to establishing a secure, robust and reliable supply chain for critical minerals & materials (CMM) that is
Cautionary Statement Regarding Forward Looking-Statements
Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “can,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “strive,” “target,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations and beliefs of the management of WTMA and EM, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the U.S. Securities and Exchange Commission (“SEC”) by WTMA and the following: WTMA’s ability to complete the proposed Business Combination or, if WTMA does not consummate such proposed Business Combination, any other initial business combination; the risk that the consummation of the proposed Business Combination is significantly delayed; the ability to recognize the anticipated benefits of the proposed Business Combination; the risk that the announcement and consummation of the proposed Business Combination disrupts EM’s current plans; following the closing of the proposed Business Combination, WTMA’s (which intends to change its name to Evolution Metals & Technologies Corp. (such post-closing entity is referred to as “New EM”)) ability to successfully integrate the business and operations of the target companies (the “Target Companies”) into its ongoing business operations and realize the intended benefits of New EM’s acquisition of the Target Companies; New EM’s ability to secure sufficient funding to successfully rebuild Critical Mineral Recovery, Inc.’s recycling facility with significant expansion on management’s expected timeline and budget, or at all; unexpected costs related to the proposed Business Combination; expectations regarding New EM’s strategies and future financial performance, including future business plans, expansion and acquisition plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, product and service acceptance, market trends, liquidity, cash flows and uses of cash, capital expenditures, and New EM’s ability to invest in growth initiatives; satisfaction or waiver (if applicable) of the conditions to the proposed Business Combination, including, among other things: (i) approval of the proposed Business Combination and related agreements and transactions by the WTMA stockholders, the holder of the EM member units and the holders of the equity interests of the other Target Companies, (ii) receipt of approval for listing on Nasdaq Stock Market LLC (“Nasdaq”) the shares of WTMA common stock to be issued in connection with the Business Combination, and (iii) the absence of any injunctions; that the amount of cash available in the trust account and from certain other investments is at least equal to the minimum available cash condition amount, after giving effect to redemptions by WTMA stockholders and certain transaction expenses; the occurrence of any other event, change or other circumstances that could give rise to the termination of the Merger Agreement; the implementation, market acceptance and success of New EM’s business model and growth strategy; the ability to obtain or maintain the listing of New EM’s common stock on Nasdaq following the proposed Business Combination; limited liquidity and trading of WTMA’s public securities; the amount of any redemptions by existing holders of WTMA common stock being greater than expected; WTMA’s ability to raise financing in the future; WTMA’s success in retaining or recruiting, or changes required in, New EM’s officers, key employees or directors following the completion of the proposed Business Combination; WTMA officers and directors allocating their time to other businesses and potentially having conflicts of interest with WTMA’s business or in approving the proposed Business Combination; the use of proceeds not held in the trust account or available to WTMA from interest income on the trust account balance; the impact of the regulatory environment and complexities with compliance related to such environment, including New EM’s ability to meet, and continue to meet, applicable regulatory requirements; New EM’s ability to execute its business plan, including with respect to its technical development and commercialization of products, and its growth and go-to-market strategies; New EM’s ability to achieve sustained, long-term profitability and commercial success; operational risks, including with respect to New EM’s use of agents or resellers in certain jurisdictions, New EM’s ability to scale up its manufacturing quantities of its products, New EM’s outsourcing of manufacturing and such manufacturers’ ability to satisfy New EM’s manufacturing needs on a timely basis, the availability of components or raw materials used to manufacture New EM’s products and New EM’s ability to process customer order backlog; New EM’s revenue deriving from a limited number of customers; geopolitical risk and changes in applicable laws or regulations, including with respect to New EM’s planned operations outside of the U.S. and Korea; New EM’s ability to attract and retain talented personnel; New EM’s ability to compete with companies that have significantly more resources; New EM’s ability to meet certain certification and compliance standards; New EM’s ability to protect its intellectual property rights and ability to protect itself against potential intellectual property infringement claims; the outcome of any known and unknown litigation and regulatory proceedings, including any proceedings that may be instituted against WTMA or EM following announcement of the proposed Business Combination; the potential characterization of New EM as an investment company subject to the Investment Company Act of 1940, as amended; and other factors detailed under the section entitled “Risk Factors” in the Registration Statement. Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of WTMA, EM and the other Target Companies prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Except to the extent required by applicable law or regulation, WTMA, EM and the other Target Companies undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
Investor & Media Contacts
Judith McGarry
Evolution Metals LLC
Tel: +1 (415) 971-2900
Email: judith.mcgarry@evolution-metals.com
Daniel Mamadou
Chief Executive Officer
Welsbach Technology Metals Acquisition Corp.
Tel: +1 (251) 280-1980
Email: daniel@welsbach.sg
FAQ
What companies are merging in the WTMAU business combination?
What are the 5 operating companies WTMAU and Evolution Metals plan to acquire?
How will the WTMAU merger impact US critical minerals supply chain?
What is the deadline for WTMAU stockholders to reverse their redemption requests?
What industries will the combined WTMAU-Evolution Metals company serve?
