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Home Deal Announcements

Broughton Capital Provides Equity Investment and Debt Facility to WTMA and EM

byBrianna Wilson
August 5, 2024
in Deal Announcements

Welsbach Technology Metals Acquisition (WTMA) and Evolution Metals (EM), inter alios, have entered into a term sheet with certain legally binding clauses with Broughton Capital Group (BCG) for BCG, through a special purpose investment vehicle, to provide an equity investment of $500 million through a private investment in public equity (PIPE) to be consummated concurrently with EM’s and WTMA’s business combination closing at a pre-money enterprise valuation for Evolution Metals & Technologies (EM&T), the surviving entity of the business combination, of $6.2 billion._x000D_
_x000D_
Additionally, BCG, through a special purpose lending vehicle, will provide to EM&T a debt facility of up to $6.2 billion to be consummated concurrently with the closing. The closing of the PIPE anchor equity investment and debt facility is subject to the completion of BCG’s on-going due diligence, execution of an equity subscription agreement, execution of a debt facility agreement, the closing and other closing conditions._x000D_
_x000D_
Cohen & Company Capital Markets is a financial advisor for Evolution Metals and Welsbach Technology Metals Acquisition.

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