American Ocean and Odyssey Marine merge to form $1 billion critical minerals platform

Odyssey Marine Exploration

08/04/2026 14:20

April 8 (Reuters) - American Ocean Minerals will merge with Odyssey Marine Exploration OMEX.O in an all-stock deal valuing the combined company at about $1 billion, the firms said on Wednesday, as they seek to create a U.S.-controlled deep-sea critical minerals platform.

Shares of Odyssey Marine were up 153% to $2.11 in premarket trade.

Following the deal's close, the combined company will operate as American Ocean Minerals Corporation and is expected to trade on the Nasdaq under the ticker symbol "AOMC".

 (Reporting by Tanay Dhumal in Bengaluru; Editing by Devika Syamnath)

 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal;))