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BRIEF-Mudrick Capital Acquisition Corp To Combine With Hycroft Mining Corp
2020-01-14 21:23
Jan 14 (Reuters) - Mudrick Capital Acquisition Corporation :
* MUDRICK CAPITAL ACQUISITION CORPORATION TO COMBINE WITH HYCROFT MINING CORPORATION
* MUDRICK CAPITAL ACQUISITION CORPORATION - MUDS WILL HAVE AT LEAST $50.0 MILLION OF UNRESTRICTED AND AVAILABLE CASH ON HAND AT CLOSING
* MUDRICK CAPITAL ACQUISITION - FOLLOWING CLOSING , HYCROFT WILL BE LISTED ON NASDAQ STOCK EXCHANGE UNDER TICKER SYMBOL "HYMC."
* MUDRICK CAPITAL ACQUISITION - HYCROFT WILL SELL ALL OF EQUITY INTERESTS OF HYCROFT'S SUBSIDIARIES AND SUBSTANTIALLY ALL OF ITS OTHER ASSETS TO MUDS
* MUDRICK CAPITAL ACQUISITION CORPORATION - TRANSACTION IS EXPECTED TO YIELD AN ENTERPRISE VALUE OF MUDS FOLLOWING TRANSACTION OF ABOUT $537 MILLION
* MUDRICK CAPITAL ACQUISITION CORPORATION - BOARDS OF DIRECTORS OF MUDS AND HYCROFT HAVE APPROVED TRANSACTION
* MUDRICK CAPITAL - ASSUMING NO REDEMPTIONS BY MUDS STOCKHOLDERS, CURRENT MUDS STOCKHOLDERS TO OWN ABOUT 41% OF MUDS IMMEDIATELY FOLLOWING TRANSACTION
* MUDRICK CAPITAL ACQUISITION - TRANSACTION WILL BE FUNDED THROUGH STOCK CONSIDERATION, CASH AND STOCK TO REPAY CERTAIN HYCROFT INDEBTEDNESS
* MUDRICK CAPITAL ACQUISITION CORPORATION - BOARDS OF DIRECTORS OF MUDS AND HYCROFT RECOMMEND THAT THEIR RESPECTIVE STOCKHOLDERS APPROVE TRANSACTION.
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((Reuters.Briefs@thomsonreuters.com;)
