India, April 8 -- Odyssey Marine Exploration, Inc. (OMEX) shares surged 90.62 percent, up $0.7515 to $1.5830 on Wednesday, after the company agreed to merge with American Ocean Minerals Corporation in a transaction valuing the combined company at about $1 billion.
The stock is currently trading at $1.5830, above its previous close of $0.8315, after opening at $2.0750 on the Nasdaq. Shares traded in a range of $1.34 to $2.13 during the session, with volume exploding to 212.74 million shares, far above the average daily volume of 956,185.
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The all-stock merger includes more than $150 million in private placement financing and follows AOMC's earlier $75 mill...