# American Metals to combine with AI Transportation Acquisition Corp

American Resources Corporation's subsidiary American Metals LLC executed a business combination agreement with AI Transportation Acquisition Corp, valuing the combined company at $170 million.

- Type: Acquisition
- Announced: 2024-07-01
- Where: United States
- Value: $170.0M
- Status: announced
- Products: recycled metals, battery-grade products, magnet-grade products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [American Metals Group](https://endata.com/companies/23400.md)
- [AI Transportation Acquisition Corp](https://endata.com/companies/78339.md) (partner)
- [American Resources Corporation](https://endata.com/companies/78340.md) (investor)

## Sources

- [nasdaq.com](https://www.nasdaq.com/press-release/american-resources-corporations-american-metals-llc-executes-business-combination), 2024-07-01: "The proposed transaction represents a total equity value of USD 170 million for the combined company on a pro forma basis."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.