Freedom Metals Acquisition, a blank check company targeting critical minerals and mining, raised $275 million by offering 27.5 million units at $10. Each unit consists of one share of common stock, and one-third of one warrant to purchase a share, exercisable at $11.50.
Freedom Metals Acquisition is led by CEO Peter Finan, the Managing Principal of Serus Legal and Chief Legal Officer and Director of EdelGas Group. He is joined by CFO Martin Zinny, who previously served as the Head of Corporate Access and Research Sales for Point72. The SPAC intends to target businesses that own, operate, or are developing assets within the critical minerals and mining sector. More specifically, businesses with strategically significant resource infrastructure spanning exploration, processing, production, refining, and recycling of minerals essential to national defense, clean energy independence, and technological advancement.
The Miami, FL-based company will trade on the Nasdaq under the symbol FDMMU. Cohen & Company Securities and Clear Street acted as joint bookrunners on the deal.
