Sustainable Opportunities Acquisition Corp. (SOAC) shares declined 0.21% in the after-hours on Friday, September 10, 2021, and closed the weekly trading at $9.39 per share. Even in the regular trading session of Friday, SOAC’s stock lost 13.67%. SOAC shares have risen 5.67% over the last 12 months, and they have moved up 6.52% in the past week. Over the past three months, the stock has gained 6.52%, while over the past six months, it has jumped 2.71%.
Let’s discuss its recent news and developments.
Update about SOAC and DeepGreen Metals merger
On September 09, 2021, DeepGreen Metals, Inc and Sustainable Opportunities Acquisition Corporation (SOAC) completed their previously announced business combination to create TMC the metals company Inc. (The Metals Company or TMC).
SOAC Shareholders approval
SOAC shareholders approved the transaction at an extraordinary general meeting held on September 3, 2021, and the transaction was completed on September 9, 2021. The combined company will operate as The Metals Company and its common shares and warrants will begin trading on the Nasdaq Global Select Market under the new ticker symbols TMC and TMCWW, respectively, on September 10, 2021.
Advance Deep-Sea Research by DeepGreen Metals
On July 08, 2021, DeepGreen Metals Inc., which has merged with Sustainable Opportunities Acquisition Corporation (SOAC) and renamed TMC the metals company Inc, announced the mobilization of its next research campaign, Environmental Expedition 4E, which comes on the heels of the successful completion of Environmental Expedition 5D, which continued research on deep-sea food chains, biodiversity, geochemistry, and nutrient cycles within the NORI-D contract area of the Clarion Clipperton Zone (CCZ) in the Pacific Ocean.
Conclusion
OSAC has the new name after the merger with Deep Sea metals and we have to wait and see how TMC performs in the coming days. its first day at the stock market was not good but it can bounce back strongly on Monday.
Leave a Reply