Welsbach Technology Metals Acquisition, a blank check company targeting the technology metals and ETMs sectors, raised $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the consummation of an initial business combination.
The SPAC is led by Chairman and CEO Daniel Mamadou, the founder and CEO of technology metals specialist advisor Welsbach Holdings and founder and former Executive Director of Talaxis, the technology metals group within Noble Group; COO and Director Christopher Clower, the COO of Welsbach Holdings; and CFO John Stanfield, founder of boutique consulting and full-service public accounting firm Stanfield & Associates.
Welsbach Technology Metals Acquisition plans to leverage management's experience to target businesses in the technology metals and energy transition critical materials (ETMs) sectors, or new sources of metals and materials for the purpose of developing decarbonization technologies and renewable energy.
Welsbach Technology Metals Acquisition plans to list on the Nasdaq under the symbol WTMAU. Chardan Capital Markets acted as sole bookrunner on the deal.
