India, April 8 -- American Ocean Minerals Corp. on Wednesday announced a definitive agreement to merge with Odyssey Marine Exploration, Inc. (OMEX), in an all-stock transaction with the combined company at approximately $1 billion.
The merger is expected to close in the late second quarter or early third quarter of 2026.
The deal includes more than $150 million in private placement funding and a $75 million pre-public financing completed by AOMC.
Following the transaction and divestiture, the combined company expects to have more than $175 million in cash to fund exploration programs.
The combined company will operate as American Ocean Minerals Corp. and is expected to list on Nasdaq under the ticker "AOMC."
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