Canadian royalty acquirer The Metals Royalty Company set to direct list on the Nasdaq today, 4/8
IPO Overview
The Metals Royalty Company, a Canadian critical metals and mineral royalty acquirer with one asset in the Pacific Ocean, announced this morning that its shares are expected trading to commence on the Nasdaq today, 4/8, following the effectiveness of its registration statement.
The company registered 55.1 million shares for sale by existing stockholders. It will not raise new capital in the listing.
The Metals Royalty Co. is engaged in the acquisition and management of critical metals and mineral royalties, streams, and other similar interests. The company’s core and only asset is the NORI Royalty, a 2.0% gross overriding royalty on the NORI Property, which is a polymetallic nodule project being developed by The Metals Company in the Clarion-Clipperton Zone of the north-east Pacific Ocean that is not currently permitted for commercial production. To date, the company has not received any royalty revenue from the NORI Royalty.
The Calgary, Canada-based company will trade on the Nasdaq under the symbol TMCR. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Stifel will serve as a financial advisor.
About the Company
We are engaged in the acquisition and management of critical metals and mineral royalties, streams and other similar interests. We are focused on providing capital to support mineral security and independence in North America in support of accelerating domestic industry growth, including energy, defense and re-industrialization. /We aim to focus on capital development opportunities encompassing all aspects of the critical metals and minerals value chain. Our royalty-based business model is designed to enable us to participate in the long-term potential cash flows and commodity upside of large-scale, strategically significant critical metals and mineral assets, with reduced exposure to operational, development or environmental risks typically associated with resource production operations. We believe we are well-positioned to benefit from growth in the global demand for critical metals and minerals and the resulting needs of operators for alternative sources of financing to fund their mining and extraction operations. Our core and only asset is the NORI Royalty, a 2.0% gross overriding royalty on the NORI Property, which is a polymetallic nodule project being developed by The Metals Company in the Clarion-Clipperton Zone of the north-east Pacific Ocean （the “CCZ”）， located approximately 1,500 miles southwest of San Diego, California.