Is AMCI A Copper Play or An Unexpected Green Play!?

Is AMCI A Copper Play or An Unexpected Green Play

Management Team

Hans Mende – Chairman

  • Co-Founded AMCI in 1986 and led growth to multi-billion dollar global enterprise
  • Former member of Board of Directors of numerous resources companies including Whitehaven Coal, ANR, Felix Coal and Foundation Coal

William Hunter – CEO, CFO & Director

  • CFO of AMCI since 2016
  • Over 25 years of experience in the natural resource and industrial sectors involved in over $20 billion of transactions
  • Bill joined AMCI from Nomura Securities and previously ran the mining and industrial groups at Jefferies and TD Securities
  • Bachelor’s degree in Commerce and M.B.A. (with Distinction) from DePaul University

Brian Beem – EVP

  • Partner and key member of AMCI team since 2006 
  • Member of Board of Directors of numerous portfolio companies
  • Joined AMCI from First Reserve Corporation, a leading private equity firm focused on the energy industry that co-invested with AMCI in 10 successful deals
  • Started his career in Leveraged Finance/Financial Sponsors group at Merrill Lynch
  • A.B. from Princeton University

Nimesh Patel – EVP

  • Partner and key member of the AMCI team since 2008
  • Member of Board of Directors of numerous portfolio companies
  • Joined AMCI from Great Hill Partners, a middle market private equity firm based in Boston.  Previously worked at ChrysCapital, an India focused private equity firm
  • A.B. from Princeton University and M.B.A. from Wharton

Originally posted by

Hello everyone,

Sorry for my excellent writing but I just wanted to give everyone a heads up about AMCI (AMCI Acquisition Corporation).

A while ago they said the have a LOI with a copper mining company, they never mentioned the name of the company, only some details about it.

https://www.globenewswire.com/news-release/2020/05/11/2031486/0/en/AMCI-Acquisition-Corp-Enters-Into-a-Non-Binding-Letter-of-Intent-to-Acquire-Copper-Portfolio.html

So from that point on, everyone starts to expect that after a while, AMCI will come with a Definitve Agreement and merger with a copper (mining) company or more like a portfolio of copper mining companys (something like that), not crazy to think that after that article. Because of the fact that a lot of people do not like such a company, I think a lot of people just deleted AMCI from their watchlists and stopped following it, as it would maybe be a boring play, not crazy to think that way.

Fast forward a little to August 10, AMCI filed their Quarterly Report (10-Q Filing):

https://sec.report/Document/0001140361-20-017998/

Again, probably for someone taking a quick look and just the fact that there normaly is no vital information in the 10-Q’s of a SPAC that already signed a LOI with a company, maybe people look at the redemption price, but most people do not dive deep, but there was a tiny easter egg in the filing, that could make AMCI (AMCI Acquisition Corporation) an amazing investment opportunity, especialy for the warrants, commons aswell ofcourse, but with .35$ warrants this is valued as a no good merger.

” On May 7, 2020, the Company entered into a non-binding letter of intent (the “Letter of Intent”) with an established mining company for an initial business combination. The Company does not currently expect that it will enter into a definitive agreement with the target for the transactions contemplated by the Letter of Intent.  However, the Company is in discussions with multiple other targets in the alternative energy generation/storage, infrastructure and electrification industries with respect to an initial business combination. There can be no assurance that a definitive agreement for a business combination will be entered into or that a business combination will be consummated.”

So basically they are looking for a target in the alternative energy generation/storage, infrastructure and electrification industries, if it is true what they are saying. (GREEEEN PLAYYYYY)

Another important thing to know: ” On May 15, 2020, the Company held a special meeting of stockholders to seek stockholder approval to extend the Combination Period from May 20, 2020 to October 20, 2020. The stockholders voted in favor to extend the deadline to complete a Business Combination to October 20, 2020.  In addition, stockholders holding 7,126,888 shares of the Company’s Class A common stock exercised their right to redeem such shares for a pro rata portion of the funds in the Trust Account.  As a result, approximately $72.6 million (approximately $10.18 per share) was removed from the Trust Account to pay such holders. Approximately $373,000 (equal to $0.025 for each share of Class A common stock that was not redeemed at the special meeting) will be deposited into the Trust Account for each calendar month, or portion thereof, that is needed by the Company to complete an initial business combination.  As of June 30, 2020, $746,259 was deposited into the Trust Account.” So redemption is around 10.18$ a share, will probably be a little higher in October when the real deadline is.

They raised 200M at their IPO, also sold 5,5 million warrants for 1$ each, 20,5M extra to the trust from the underwriters (if I did understand that correctly). That would make it about 225M and 72,6 million that redeemed. So if I read it all correctly there is about 152M$ left in the trust.

Always do your own DD, and do not buy blindly because someone on Reddit told you so! 🙂

Maybe anyone has possible targets in the new industry they are looking? Take not that they only have untill somewhere in October to complete, I do not know for sure, but I dont think they can extend again.

Happy to answer possible questions in the comments.

NEWS:

SILVER Ralley

Its has been finishing low and opening super high

SHLL Ralley

Gonna buy more

HYMCw

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