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Hennessy Capital Investment Corp VI (HCVI) is a special purpose acquisition company (SPAC) listed on the Nasdaq Global Market. Hennessy Capital Investment Corp VI, a Nasdaq listed special purpose acquisition company, and Namib Minerals (“Namib” or the “Company”) have entered into a definitive business combination agreement. This Proposed Business Combination is expected to be completed in the fourth quarter of 2024, subject to customary closing conditions, including regulatory and stockholder approvals. The combined public company (“PubCo”) is expected to be named “Namib Minerals” and to list its common stock and warrants to purchase common stock on Nasdaq. The Proposed Business Combination consideration values Namib at a pre-money enterprise value of $500 million, with up to an additional 30 million PubCo ordinary shares tied to the completion of operational milestones, including the commercial production of the Mazowe and Redwing mines. The Proposed Business Combination is anticipated to result in significant net proceeds to Namib, as well as additional funding from financing agreements with investors. Namib expects operational efficiency and cash flow generation from its producing How mine and the build-out of its multi-asset growth path.
Hennessy Capital Investment Corp. VI (NASDAQ: HCVI) announced that its stockholders approved an amendment to extend the deadline for completing an initial business combination. The new deadline is March 31, 2025, extended from September 30, 2024. The board of directors can further extend this deadline up to three times, one month each, until June 30, 2025. Stockholders also approved removing the limitation on redeeming public shares that would result in net tangible assets falling below $5 million. Daniel Hennessy, Chairman and CEO, expressed satisfaction with the stockholder support, stating it allows the company to focus on completing the proposed business combination with Namib Minerals. A detailed report of voting results will be filed with the SEC on Form 8-K.
Hennessy Capital Investment Corp. VI (NASDAQ: HCVI) has postponed its special meeting of stockholders from September 27, 2024, to September 30, 2024, at 10:00 a.m. Eastern Time. The record date for stockholder voting eligibility remains September 6, 2024. Previously submitted proxies and votes remain valid unless changed. The deadline for Class A common stock redemption requests remains September 25, 2024, at 5:00 p.m. Eastern Time. Stockholders can withdraw redemption requests until 9:00 a.m. Eastern Time on September 30, 2024. This postponement allows additional time for stockholders to consider their voting and redemption options.
Namib Minerals, a well-established gold producer in Africa, has entered a definitive agreement for a business combination with Hennessy Capital Investment Corp. VI (HCVI). The transaction values Namib at a $500 million pre-money enterprise value with an additional 30 million contingent shares tied to operational milestones.
The deal is expected to close in Q4 2024, subject to approvals. Upon completion, Namib will be publicly traded on Nasdaq under the ticker symbols 'NAMM' and 'NAMMW'. The transaction is anticipated to provide Namib with $91 million in net proceeds and $60 million in additional funding to support its growth plans, including restarting the Mazowe and Redwing mines and expanding into battery metals in the DRC.
Namib's CEO, Ibrahima Tall, will continue to lead the company post-Closing. This merger represents the largest African deSPAC to date, aiming to enhance Namib's operational efficiency and cash flow generation.
Hennessy Capital Investment Corp. VI (NASDAQ: HCVIU) announced that starting on November 19, 2021, unit holders from its IPO can trade shares of Class A common stock and redeemable warrants separately. The Class A common stock will trade under the symbol HCVI and the warrants under HCVIW. Units not separated will continue to trade as HCVIU. Investors must contact Continental Stock Transfer & Trust Company to process the separation. The announcement does not constitute an offer to sell or solicit securities.
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