As part of the transaction, a group of institutional investors has committed to a US$150 million private placement and a US$75 million pre-public financing. Citigroup Inc and Cantor Fitzgerald LP arranged the placement while Moelis & Co was financial adviser to Odyssey.
(April 8): American Ocean Minerals Corp, a deep-sea exploration company led by former Rio Tinto CEO Tom Albanese, is combining with Odyssey Marine Exploration Inc in a reverse merger, according to people with knowledge of the matter.
The all-stock deal values the combined company at about US$1 billion on a pro forma equity basis, the companies said in a statement Wednesday morning. The announcement confirms an earlier report from Bloomberg News.
