Metals Acquisition Corp. (NYSE:MTAL)  has executed further funding for its PIPE in connection to its business combination with Glencore’s (LON:GLEN) CSA Copper Mine, announcing this afternoon that it has secured $52 million in committed financing.

Today’s investments come at a purchase price of $10 per share from a number of large, global natural resource funds who have anchored the PIPE and include a 100% upsizing from an existing anchor investor.

Additionally, the investment includes a subscription from Bluescape Energy Partners, who will nominate a director to the MAC board of directors as it seeks to partner with the team.

In connection with the subscription agreements, Green Mountain Metals, MAC’s sponsor, agreed to transfer an aggregate of 470,833 shares of Class B common stock to certain investors who agreed to subscribe for a significant number of subscribed shares. In addition, the members of Green Mountain Metals have agreed to sell, at cost, 500,000 warrants to certain investors who agreed to subscribe for a significant number of subscribed shares.

Metals has brought in a series of funding for its PIPE within the past several weeks prior to its special meeting to approve its business combination, bringing the total PIPE to $230 million, compared to its initial fundraising target of $126 million.

The SPAC’s shareholders approved its acquisition and business combination with the CSA Copper Mine from Glencore (LON:GLEN) at a special meeting held on June 5, but do not expect to close the deal until June 15. In connection with the shareholder vote at the meeting, shareholders holding 23,513,685 Class A ordinary shares validly elected to redeem their shares, removing 88.68% of the SPAC’s trust.

The common stock and warrants of the combined company are set to begin trading on the NYSE on June 16 under the ticker symbols, “MTAL” and “MTAL.WS”, respectively.

Metals announced its $1.1 billion transaction with CSA Copper Mine in March 2022. Glencore’s CSA copper and silver mine is among the Australia’s largest, having exploited about 41,000 metric tons of copper in 2021.