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AMR Resources Targets Critical Minerals With $256.9 Million SPAC IPO

With plans to raise roughly $256.9 million, Cayman Islands-based AMR Resources Acquisition Corp. filed for an initial public offering on Friday. The blank-check company intends to leverage its Nasdaq debut to hunt for acquisition targets within the critical minerals sector, spanning everything from exploration to recycling.

AMR Resources Targets Critical Minerals With $256.9 Million SPAC IPO

The firm is offering 25 million units priced at $10 each, with each unit comprising a Class A ordinary share and a half-warrant. These warrants carry an $11.50 strike price for future share conversion. Underwriter BTIG holds a 45-day option for an additional 3.8 million units, which could push total gross proceeds to approximately $295.1 million, including private placement funds.

AMR Resources aims to list its units under the ticker AMACU, with plans to split the securities into AMAC for shares and AMACW for warrants at a later date. The company’s mandate focuses on assets essential to national defense, clean energy initiatives, and advanced manufacturing processes.

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