Rigel Resource Acquisition Corp. (RRAC.U) Prices Upsized $275M IPO

Rigel Resource Acquisition Corp. announced the pricing of its upsized $275 million IPO and its units are expected to begin trading on the NYSE under the symbol “RRAC.U” Friday, November 5.

The new SPAC intends to pursue an initial business combination with a target in the global mining industry, including operators of mines and providers of ancillary services. This may include “green” and/or battery metals and industrial minerals mining operators and ancillary service providers delivering innovative mineral processing technologies, or battery mineral technologies.  Rigel Resource is led by Chairman of the Board of Directors Oskar Lewnowski, CEO Jonathan Lamb, President Nathanael Abebe, and CFO Jeff Feeley.

Total SPAC deal count for 2021 year-to-date is now 525. This offering is expected to close on Tuesday, November 9.

Goldman Sachs & Co. LLC is acting as the sole book-running manager for the offering. Skadden, Arps, Slate, Meagher & Flom LLP is serving as Issuer’s Counsel with Winston & Strawn LLP serving as Underwriter’s Counsel.  Marcum, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.