Mudrick Capital Acquisition II logo

MUDSU - Mudrick Capital Acquisition II News Story

$13.67 -0.5  -3.5%

Sector
Financials
Size
Mid Cap
Market Cap £414.9m
Enterprise Value £414.1m
Revenue £n/a
Position in Universe 3339th / 6852

BRIEF-Mudrick Capital Acquisition Corp To Combine With Hycroft Mining Corp

Tue 14th January, 2020 1:23pm
Jan 14 (Reuters) - Mudrick Capital Acquisition Corporation
 MUDSU.O :
    * MUDRICK CAPITAL ACQUISITION CORPORATION TO COMBINE WITH
HYCROFT
MINING CORPORATION
    * MUDRICK CAPITAL ACQUISITION CORPORATION - MUDS WILL HAVE
AT
LEAST $50.0 MILLION OF UNRESTRICTED AND AVAILABLE CASH ON HAND
AT CLOSING
    * MUDRICK CAPITAL ACQUISITION - FOLLOWING CLOSING , HYCROFT
WILL
BE LISTED ON NASDAQ STOCK EXCHANGE UNDER TICKER SYMBOL "HYMC."
    * MUDRICK CAPITAL ACQUISITION - HYCROFT WILL SELL ALL OF
EQUITY
INTERESTS OF HYCROFT'S SUBSIDIARIES AND SUBSTANTIALLY ALL OF ITS
OTHER ASSETS TO MUDS
    * MUDRICK CAPITAL ACQUISITION CORPORATION - TRANSACTION IS
EXPECTED TO YIELD AN ENTERPRISE VALUE OF MUDS FOLLOWING
TRANSACTION OF ABOUT $537 MILLION
    * MUDRICK CAPITAL ACQUISITION CORPORATION - BOARDS OF
DIRECTORS OF
MUDS AND HYCROFT HAVE APPROVED TRANSACTION
    * MUDRICK CAPITAL - ASSUMING NO REDEMPTIONS BY MUDS
STOCKHOLDERS,
CURRENT MUDS STOCKHOLDERS TO OWN ABOUT 41% OF MUDS IMMEDIATELY
FOLLOWING TRANSACTION
    * MUDRICK CAPITAL ACQUISITION - TRANSACTION WILL BE FUNDED
THROUGH
STOCK CONSIDERATION, CASH AND STOCK TO REPAY CERTAIN HYCROFT
INDEBTEDNESS
    * MUDRICK CAPITAL ACQUISITION CORPORATION - BOARDS OF
DIRECTORS OF
MUDS AND HYCROFT RECOMMEND THAT THEIR RESPECTIVE STOCKHOLDERS
APPROVE TRANSACTION.

Source text for Eikon:  ID:nPn3HqJr3a 
Further company coverage:  MUDSU.O 

 ((Reuters.Briefs@thomsonreuters.com;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.