DeepGreen Metals, which plans to produce metals for use in electric vehicle batteries through deep-sea mining, has entered into an agreement to go public with a special purpose acquisition company (SPAC). We'll update this page as new information becomes available.
Canadian DeepGreen Metals has entered into a $2.9 billion deal to go public via a special purpose acquisition company (SPAC), also known as a blank check company. SPACs are companies with no commercial operations that exist purely to raise capital through IPOs. The deal is expected to close in the second quarter of 2021.
The SPAC, Sustainable Opportunities Acquisition Corp, originally went public in May 2020. After the merger, the company's name will change to The Metals Company and will trade on the NYSE under the ticker "TMC."
Once DeepGreen Metals goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy DeepGreen Metals stock.
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