American Ocean Minerals Corporation (AMOC) and Odyssey Marine Exploration have moved forward with their planned merger by filing a registration statement on Form S-4 with the US Securities and Exchange Commission (SEC).
The proposed merger agreement, signed last month, values the combined entity at around $1bn in equity
This all-stock transaction will involve exchanging AOMC’s existing common stock and warrants for those of Odyssey. The merger will establish a major platform for critical minerals and rare earths, focusing on deep-sea polymetallic nodule exploration and development. Ahead of this merger, AOMC secured more than $230m from institutional and strategic investors, with around $156m from private placement and $75.6m in pre-public funding.
The new company anticipates having $175m in cash to further exploration projects. After the merger, the entity will operate as American Ocean Minerals Corporation and will trade on Nasdaq under the ticker ‘AOMC’. The proposed transaction aims to establish an expanded marine critical minerals platform by merging Odyssey’s operational expertise and public company framework with AOMC’s financial resources and strategic investments in a diverse marine mineral portfolio.