MAC is a special purpose acquisition company (SPAC) listed on the New York Stock Exchange (NYSE) focusing on operating and acquiring metals and mining businesses in high quality, stable jurisdictions that are critical in the electrification and decarbonisation of the global economy.
The Acquisition was for a total consideration of USD1.1 billion. In addition to the Sprott mezzanine facility, the Acquisition was funded via a USD205 million syndicated senior facility, a USD75 million silver stream and USD75 million copper stream, each provided by Osisko Bermuda Limited and over USD280 million worth of private equity placements.
Connected to the Acquisition, MAC also completed a cross border merger to redomicile to Jersey, merging with its related company, Metals Acquisition Limited, on and from completion, and relisting on the NYSE under the ticker MTAL.
Senior associate Daniel Healy and associate Angharad Prescott advised Sprott on the Jersey aspects of the mezzanine financing. Partner Simon Raftopoulos led on the Cayman Islands aspects alongside counsel Alexandra Simpson and associate Appolina Winton.
