GoGreen (GOGN) Shareholders Approve Lifezone Metals Deal
by Nicholas Alan Clayton on 2023-06-30 at 6:55am

GoGreen Investments (NYSE:GOGN) secured shareholder approval for its combination with battery metals producer Lifezone Metals at a special meeting yesterday June 29.

The SPAC has not yet released redemption figures in connection with the vote, but the transaction’s $50 million minimum cash condition was fully covered by a $70 million PIPE at $10 per share.

The parties expect to close the combination July 5 and the combined company’s shares and warrants are to trade on the NYSE the following day under the symbols “LZM” and “LZMW”, respectively.

GoGreen initially announced its $681 million combination with Lifezone in December 2022 and the two sides have since managed an uncommonly smooth path to close in just over six months that required no extension votes.

Lifezone operates the Kabanga mining project in Tanzania, which produces nickel, copper and cobalt primarily for battery manufacturers. It uses proprietary technology to process its mined nickel into battery-grade metal and takes on recycled battery materials as a part of its process.

Earlier this month, the company announced an MOU with a mining peer focused on platinum group metals to create a joint recycling facility using Lifezone’s Hydromet technology.


ADVISORS

  • BTIG, LLC and Sprott Capital Partners LP acted as placement agents for the PIPE financing.
  • Sprott Capital Partners LP also acted as the financial and capital markets advisor to GoGreen Investments.
  • Latham & Watkins LLP served as counsel to GoGreen Investments.
  • Skadden, Arps, Slate, Meagher & Flom (UK) LLP acted as legal counsel to the placement agents.
  • RBC Capital Markets acted as exclusive financial adviser to Lifezone Metals.
  • Travers Smith LLP served as UK legal counsel and Cravath, Swaine & Moore LLP served as US legal counsel to Lifezone Metals.
  • Mayer Brown LLP acted as legal counsel to RBC Capital Markets.
Recent Posts
by Kristi Marvin on 2023-12-02 at 11:45am

Terms Tracker for the Week Ending December 1, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the most part, this was a quiet week for filings being that it followed the Thanksgiving holiday. Ideally, bankers, lawyers and teams got a...

by Marlena Haddad on 2023-12-01 at 5:39pm

Aimei Health Technology Co., Ltd (NASDAQ: AFJKU) announced the pricing of its $60 million IPO this evening. Its units are expected to begin trading on the Nasdaq under the symbol “AFJKU” on Monday, December 4, 2023. After the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to...

by Marlena Haddad on 2023-12-01 at 4:43pm

PROOF Acquisition Corp I (NYSE: PACI) announced this afternoon that it has closed its business combination with private aviation company Volato after shareholders approved the deal at a meeting on November 28. In total, including previous shareholder votes, shareholders opted to redeem an aggregate of 99.93% of PACI’s trust, leaving it with less than $215,000...

by Marlena Haddad on 2023-12-01 at 9:34am

Adit EdTech (NYSE: ADEX) announced this morning that its shareholders have approved its business combination with bitcoin self-mining company Griid Infrastructure at a special meeting held yesterday, November 30. A total of 8,520,710 shares of common stock, representing approximately 95.7% of the outstanding shares entitled to vote, were present at the meeting, constituting a quorum...

by Nicholas Alan Clayton on 2023-12-01 at 7:49am

At the SPAC of Dawn There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today. The fighting in Gaza continues to not appear to have appreciable affects on the...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved