RCF Acquisition, a blank check company formed by Resource Capital Funds targeting the critical minerals value chain, filed on Monday with the SEC to raise up to $200 million in an initial public offering.
The Denver, CO-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, RCF Acquisition would command a market value of $250 million.
The company is led by Chairman James McClements, co-founder and Managing Partner of mining private equity firm Resource Capital Funds, and CEO and Director Sunny Shah, who most recently was Managing Director and Head of the EMEA Metals and Mining investment banking division at Goldman Sachs International. The company plans to target assets or businesses of scale across the critical minerals value chain that are poised to benefit over the long-term from the market opportunity created by global energy transition.
RCF Acquisition was founded in 2021 and plans to list on the NYSE under the symbol RCF.U. The company filed confidentially on August 3, 2021. Citi and Barclays are the joint bookrunners on the deal.
