Rigel Resource Acquisition announced late yesterday that it had signed a non-binding letter of intent for a business combination with a company in the global metals sector on March 23.
The news follows the SPAC's filing of a proxy last week seeking a deadline extension from next month until Aug. 9, 2024 without further contributions to the trust account.
The SPAC raised $275 million in a November 2021 IPO. Rigel Resource is focused on the global metals value chain. Rigel Chairman Oskar Lewnowski is the founder and CIO of Orion Resource Partners. Prior to Orion, he was a founding partner of the Red Kite Group, a hedge fund in the metals space. Read more.