MIAMI – June 21, 2024 – 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.
About Greenberg Traurig’s Corporate Practice: Greenberg Traurig’s Corporate Practice comprises more than 600 lawyers in the United States, Europe, Asia, the Middle East and Latin America who regularly advise public and privately held companies, entrepreneurs and investment funds on global mergers and acquisitions, corporate restructurings, private equity and venture capital, underwritten and syndicated offerings, commercial finance and syndicated lending, cross-border transactions, and general corporate matters. The group’s industry experience includes transactions in a wide range of fields, from the pharmaceutical, medical devices, and life sciences fields, to representations involving clients in the aviation, banking, consumer products, energy, food and beverage, health care, manufacturing, media, technology, and telecommunications sectors.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2750 attorneys in 47 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 6.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.