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.


FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...
Yorkville Acquisition Corp. (NASDAQ:YORKU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YORKU”, Friday, June 27, 2025. The new SPAC plans to combine with a target company in the telecom, media or technology sectors. Yorkville Acquisition Corp.’s management team is led...
At the SPAC of Dawn As pressure on Fed Chairman Jerome Powell increases, the market is set to ingest a raft of new indicators today as well as hear from Cleveland Fed President Beth Hammack on the potential interest rate path. Today will also see June’s 8th SPAC IPO as Cantor Equity Partners III Inc....
Cantor Equity Partners III Inc. (NASDAQ:CAEP) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CAEP”, Thursday, June 26, 2025. The new SPAC plans to combine with a target company in an industry where its management has relevant expertise such financial...
Launch One (NASDAQ:LPAA) has entered into a definitive agreement to combine with biotech firm Minovia Therapeutics at a $180 million pre-money valuation. Haifa, Israel-based Minovia is developing a drug platform based on mitochondrial cell therapies to potentially treat rare disorders as well as the effects of aging and other causes of bodily degeneration. The combined...