Essential Minerals Acquisition, a blank check company targeting businesses in precious metals and critical minerals in the US, filed on Monday with the SEC to raise up to $150 million in an initial public offering.
The company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock, and 1/10 rights to receive a share at the time of the business combination.
Essential Minerals Acquisition is led by CEO and Chairman Matthew Hayes, the Managing Director of Wagtail Capital and founder of Sun Silver (ASX: SS1) and Black Bear Minerals (ASX: BKB), and CFO Michael Loughnan, a Principal of Oakline Group.
The Austin, TX-based company was founded in 2026. It plans to list on the Nasdaq under the symbol EMACU. Cohen & Company Securities is the sole bookrunner on the deal.
