American Metals LLC to merge with AI Transportation Acquisition Corp in $170M deal

American Resources Corporation's subsidiary American Metals LLC has executed a business combination agreement with Nasdaq-listed SPAC AI Transportation Acquisition Corp, valuing the combined company at $170 million. The new entity, Electrified Materials Corporation, will list on Nasdaq under ticker EMCO.

“American Resources Corporation's (NASDAQ:AREC) wholly-owned subsidiary, American Metals LLC, and AI Transportation Acquisition Corp today announced that American Metals and AITR have executed a definitive business combination agreement for a proposed business combination in a transaction valued at $”nasdaq.com

• 5 sources
• nasdaq.comAmerican Resources Corporation's American Metals LLC Executes Business Combination Agreement with Nasdaq-Listed AI Transportation Acquisition Corp | NasdaqJul 1, 2024
• globenewswire.comAmerican Resources Corporation’s American Metals LLCAI Transportation Acquisition CorpJul 1, 2024
• finance.yahoo.comAmerican Resources Corporation’s American Metals LLC Executes Business Combination with Nasdaq Listed AI Transportation Acquisition CorpAI Transportation Acquisition CorpJul 1, 2024
• arc-group.comAmerican Metals LLC Announces Proposed Business Combination Agreement with AI Transportation Acquisition Corp, to List on Nasdaq - ARC GroupDeveloperJul 2, 2024

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