Tactical Resources to Go Public via SPAC Plum Acquisition Corp. III in $589 Million Deal.

Mineral exploration and development company, Tactical Resources, has agreed to go public with special purpose acquisition company (SPAC) Plum Acquisition Corp. III in a deal worth $589m. The existing shareholders of Tactical Resources will convert their full equity/ownership stakes into the newly formed entity, which is expected to hold about 82% of the new public company, which will be listed on Nasdaq. The total consideration will be a number of newly issued common shares based on a $500m pre-transaction equity value. The proceeds from the potential deal are expected to support Tactical Resources’ strategic growth plan and support the company’s operations plan for the Peak project. The deal is subject to regulatory, court and stockholder approvals, and is set to be completed in Q4 2024.