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_
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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_
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Cohen & Company Capital Markets is a financial advisor for Evolution Metals and Welsbach Technology Metals Acquisition.
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