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SPAC · Merger completed

Sustainable Opportunities Acquisition Corp.

Business combination with DeepGreen Metals Inc.

Sustainable Opportunities Acquisition Corp. is a blank-check company (SPAC) that raised $300M in its initial public offering on May 6, 2020, listing on New York Stock Exchange. It completed its business combination with DeepGreen Metals Inc. on Sep 9, 2021; the combined company is TMC the metals company Inc. (TMC). Kirkland & Ellis advised the SPAC and Davis Polk advised the underwriters on the IPO.

DeepGreen Metals Inc. is a Canadian developer of battery metals from seafloor polymetallic nodules. Through subsidiaries it holds exploration and commercial rights to three nodule contract areas in the Pacific Ocean's Clarion Clipperton Zone, sponsored by Nauru, Kiribati and Tonga and regulated by the International Seabed Authority.

Status
Merger completed
IPO date
May 6, 2020
IPO size
$300M
IPO exchange
New York Stock Exchange
Target
DeepGreen Metals Inc.
Announced
Mar 4, 2021
Closed
Sep 9, 2021
Combined company
TMC the metals company Inc. (TMC)
SPAC counsel (IPO)
Kirkland & Ellis and Maples and Calder
Underwriters' counsel (IPO)
Davis Polk

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