UPDATE: DeepGreen Metals Said in Talks to Go Public Via Sustainable Opportunities Acquisition (SOAC) - Bloomberg

February 23, 2021 3:12 PM EST

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(Updated - February 23, 2021 3:14 PM EST)

DeepGreen Metals, which plans to produce metals used in EV batteries is in talks to go public through a merger with Sustainable Opportunities Acquisition (NYSE: SOAC), according to Bloomberg, citing people with knowledge of the matter.

Sustainable Opportunities has begun talks to raise new equity from potential investors for a deal that's set to value the combined entity at about $2.8 billion. The SPAC is seeking to raise around $200 million to fund the deal.

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