DeepGreen Metals, which plans to produce metals for use in electric vehicle batteries through deep-sea mining, has entered into an agreement to go public with a special purpose acquisition company (SPAC). We'll update this page as new information becomes available.
What we know about the DeepGreen Metals IPO
Canadian DeepGreen Metals has entered into a $2.9 billion deal to go public via a special purpose acquisition company (SPAC), also known as a blank check company. SPACs are companies with no commercial operations that exist purely to raise capital through IPOs. The deal is expected to close in the second quarter of 2021.
The SPAC, Sustainable Opportunities Acquisition Corp, originally went public in May 2020. After the merger, the company's name will change to The Metals Company and will trade on the NYSE under the ticker "TMC."
How to buy DeepGreen Metals stock when it starts trading
Once DeepGreen Metals goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
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How do similar companies perform?
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy DeepGreen Metals stock.
See how the following stocks are performing, and view details like market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield.
Company summary
Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold. It flagship project is the Greens Creek mine located on Admiralty Island in southeast Alaska. Hecla Mining Company was incorporated in 1891 and is headquartered in Coeur d'Alene, Idaho.
Odyssey Marine Exploration, Inc., together with its subsidiaries, discovers, validates, and develops seafloor mineral resources. It explores for phosphate and gold. The company provides specialized mineral exploration, project development, and marine services to clients. Odyssey Marine Exploration, Inc. is headquartered in Tampa, Florida.
SSR Mining Inc., together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina. The company was formerly known as Silver Standard Resources Inc. and changed its name to SSR Mining Inc. in August 2017. SSR Mining Inc. was incorporated in 1946 and is based in Denver, Colorado.
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Sheri Bechtel is associate editorial director of product reviews at The Balance and a former editor at Finder, specializing in investments. Her writing and analysis has been featured in Yahoo News, Bond Buyer and Prospect News. She holds a B.A. in English from Columbus State University. See full bio
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