Metals Acquisition said the SEC has declared effective its registration statement on the pending takeover of the CSA copper mine in Australia.
A shareholder vote on the $1.1 billion deal is set for June 5.
The SPAC also announced that it has entered into additional pipe agreements totaling $26 million at a purchase price of $10 per share, expected to close with the deal completion. The PIPE now totals approximately $140 million, surpassing the initial fundraising target of $126 million.
In addition, SPAc Chairman Neville Power has entered into a Subscription Agreement with an aggregate purchase price of $500,000.
The SPAC has beefed up the finances for the deal several times since it was announced in March 2022, most recently a $112 million addition to the PIPE disclosed last month. Read more.