GoGreen Investments today in an 8-K said it has completed its merger with Lifezone Metals, which the SPAC's shareholders approved in a vote last week..
Lifezone develops cleaner battery metals.
The SPAC's trust was depleted by more than $280 million on redemptions. However, GoGreen brought a $70 million pipe to the deal, which also closed today and was more than enough to cover the $50 million minimum cash condition on the Lifezone merger.
At deal announcement in December, the combined company was expected to have an estimated post‐transaction equity value of approximately $1 billion with over $357 million in net cash, — although that assumed no redemptions — and $33 million in estimated transaction fees. Read more.