American Resources Corporation’s American Metals LLC Announces Business Combination with Nasdaq Listed AI Transportation Acquisition Corp

Nasdaq listed American Resources Corporation’s wholly-owned subsidiary, American Metals LLC, and AI Transportation Acquisition Corp (Nasdaq: AITR), announced that they have executed a definitive business combination agreement in a DE-SPAC transaction valued at $170,000,000.

Under the business combination, AI Transportation Acquisition Corp and American Metals LLC will become wholly-owned subsidiaries of a newly formed Delaware corporation, Electrified Materials Corporation, which intends to be listed on the Nasdaq Stock Market under the ticker symbol “EMCO.”

American Metals LLC is a cutting-edge recycler of metals to the electrified economy and processor of used metals and minerals to be recycled and further refined into new steel-based, battery-grade and magnet-grade products that operates in the U.S.

We congratulate American Metals LLC and our client, AI Transportation Acquisition Corp, on this exciting milestone!

The Rimon team was led by attorneys Debbie Klis, and Benjamin Aguileria, and supported by attorneys Ivan Komaritsky, Roy Gillig, Sarah Zhao and paralegal, Anne Mitzelfelt.

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Rimon’s Securities and Capital Markets attorneys have decades of experience representing sponsors, issuers, investment banks, underwriters, and shareholders operating across a wide variety of industries in connection with major securities offerings as well as regulatory and compliance issues.  As a truly global firm, we have attorneys located in all the key international financial centers and have extensive experience representing our clients in cross-border capacities. Read more here