Global law firm Greenberg Traurig, P.A. advised Namib Minerals, an established gold-mining producer in the sub-Saharan gold-mining industry with a portfolio of mines in Zimbabwe, in its definitive business combination agreement (deSPAC) with Hennessy Capital Investment Corp. VI, a special purpose acquisition company. The proposed business combination represents the largest deSPAC on record for a company based in Africa, according to the company’s press release.
The deal is expected to close in the fourth quarter of 2024, pending customary closing conditions, including regulatory and stockholder approvals. The combined public company is expected to be named “Namib Minerals” and to list its common stock and warrants on Nasdaq under the ticker symbols "NAMM" and "NAMMW," respectively, subject to approval of its listing application.
The proposed transaction values Namib at a pre-money enterprise value of $500 million with up to an additional 30 million of contingent ordinary shares tied to the completion of operational milestones, including the commercial production of Namib’s Mazowe and Redwing mines, according to the company’s press release.
The transaction proceeds will support Namib’s growth plan to create a multiasset and multijurisdiction platform through gold mine restarts and the development of its prospective battery metals assets in the Democratic Republic of the Congo, the company said.
The Greenberg Traurig team representing Namib was led by Co-Chair of the firm’s Global Corporate Practice Alan I. Annex, New York Corporate Shareholder Adam S. Namoury, Corporate Shareholder and Co-Managing Shareholder of the firm’s Los Angeles office Barbara A. Jones, and supported by a core team including New York Corporate Associates Ricardo Crispim Leite, Yoojin Lee, and Los Angeles Corporate Associate Eric Schoppe.
Other attorneys who assisted in the transaction included Employee Benefits & Compensation Co-Chair Mindy B. Leathe in Miami, Tax Shareholder James Maynor in Northern Virginia, Antitrust Litigation & Competition Regulation Shareholder Stephen M. Pepper in New York, Intellectual Property & Technology Shareholder David M. Greenberg in New York, Labor & Employment Shareholder Keshia M. Tiemann in Atlanta, Environmental Shareholder Christopher J. Neumann in Denver, Environmental Practice Group Attorney H. Stanley Dempsey in Denver, Antitrust Litigation & Competition Regulation Of Counsel Rebecca Tracy Rotem in Washington, D.C., Intellectual Property & Technology Of Counsel Tzy-Ying (Sandy) Chiu in New York, and Labor & Employment Associate Megan C. Eckel in Atlanta.
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