Welcome to our dedicated page for SOAC news (Ticker: SOAC), a resource for investors and traders seeking the latest updates and insights on SOAC stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SOAC's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SOAC's position in the market.
The Metals Company (TMC) announced the mobilisation of its Environmental Expedition 5C, part of a $75 million deep-sea research program in the Clarion Clipperton Zone. This expedition aims to establish an environmental baseline to assess the impacts of its proposed operations for sourcing critical battery metals from polymetallic nodules. TMC has identified over 1.6 billion tonnes of nodules, enough for 280 million electric vehicles. The project was recently ranked the top nickel project globally, with resource confidence improving from inferred to indicated status.
The Metals Company has completed its business combination with Sustainable Opportunities Acquisition Corporation (SOAC), approved by SOAC shareholders on
DeepGreen Metals and Sustainable Opportunities Acquisition Corporation (SOAC) announced the approval of their business combination at an extraordinary shareholders' meeting on September 3, 2021. The merger will create TMC the metals company Inc., expected to close shortly, providing TMC with approximately $137.3 million in cash, including $27.2 million from the SOAC trust. Despite challenges in private placement funding of $330.3 million, TMC aims to advance towards commercial production of battery metals, focusing on environmental sustainability.
Sustainable Opportunities Acquisition Corp. (NYSE: SOAC) has filed a definitive proxy statement with the SEC regarding its planned business combination with DeepGreen Metals Inc., a company focused on deep-sea mining of battery metals. The extraordinary general meeting for SOAC shareholders is set for September 3, 2021, to vote on this proposal. If approved, the merger will culminate in the newly formed entity operating as TMC The Metals Company on NASDAQ. The Board of Directors recommends a 'FOR' vote to facilitate the merger aimed at enhancing sustainable mining practices.
DeepGreen Metals Inc., set to merge with Sustainable Opportunities Acquisition Corporation (NYSE: SOAC) and become TMC the metals company Inc., announced the launch of Environmental Expedition 4E. This follows the completion of Expedition 5D, which assessed deep-sea biodiversity and nutrient cycles in the Clarion Clipperton Zone (CCZ). The research aims to establish environmental baselines for sustainable battery metal sourcing from deep-sea polymetallic nodules. Led by CSA Ocean Sciences Inc., Expedition 4E will enhance understanding of deep-sea impacts and contribute to a comprehensive environmental impact statement.
DeepGreen Metals Inc. has secured approval from its securityholders for a Plan of Arrangement regarding its business combination with Sustainable Opportunities Acquisition Corp. (SOAC). The meeting, held on June 22, 2021, saw a unanimous vote, with 90.4% of outstanding shares and 98.7% of options in favor. The transaction awaits SOAC shareholder approval and is expected to finalize in Q3 2021, leading to the formation of TMC the metals company Inc., trading on NASDAQ as 'TMC'. Both companies aim to supply critical battery metals sustainably.
The Metals Company welcomes the White House's designation of battery-grade nickel as 'critical' in its supply chain review, emphasizing the importance of securing U.S. battery metal sources. The report highlights several challenges, including supply concentration and rising costs, urging investment in sustainable extraction methods. Gerard Barron, CEO, underscores the potential of seafloor resources to meet U.S. battery metal needs with minimal environmental impact. The administration plans to expand funding for critical mineral processing, aiming for U.S. mineral independence and reduced reliance on foreign supplies.
The Metals Company, focused on sustainable battery metal production from seafloor nodules, partners with BIG-Bjarke Ingels Group to innovate industrial designs for their operations. This collaboration aims to transform metal extraction processes, emphasizing environmental responsibility and community integration. The project includes a robotic collector vehicle and a carbon-neutral production vessel, targeting a fleet of 10 ships to deliver over 40 million tons of battery metals by 2050. The approach seeks to reshape industrial ports into community hubs, aligning with the green energy transition.
Sustainable Opportunities Acquisition Corporation (NYSE: SOAC) has filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission for its proposed business combination with DeepGreen Metals Inc. This partnership aims to explore battery metals from lower-impact polymetallic nodules in the Pacific Ocean. With an estimated resource equivalent to metals for 280 million EVs, the combined entity will be known as The Metals Company, slated to list under the ticker TMC. This move positions SOAC to address the anticipated deficit in battery metals critical for EVs.
DeepGreen Metals has signed a definitive agreement with Sustainable Opportunities Acquisition Corporation (NYSE: SOAC) to create a pro forma equity value of US$2.9 billion upon completion. The new entity, The Metals Company, aims to develop sustainable battery metals from polymetallic nodules found on the seafloor, supporting the EV supply chain. This venture is critical given the potential shortages of nickel and copper expected by 2024-2025. The transaction includes a US$330 million PIPE investment, with closing anticipated in Q2 2021, subject to shareholder approval.
