American Resources' American Metals Executes Business Combination With AI Transportation

MT Newswires Live07-01

American Resources' (AREC) American Metals subsidiary is executing a business combination agreement with AI Transportation Acquisition (AITR), a publicly listed blank-check company, in a transaction valued at $170 million, the companies said Monday.

Under the deal, both AI Transportation Acquisition and American Metals will become subsidiaries of Electrified Materials, which is expected to be listed on the Nasdaq stock market under the ticker symbol EMCO, according to the companies.

The transaction requires the approval of both companies' stockholders and regulatory agencies, the companies said.

Price: 0.8588, Change: +0.13, Percent Change: +17.45

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