AcquisitionsApr 8, 2026, 09:12 AM
Odyssey Marine Exploration to Acquire American Ocean Minerals in All-Stock Merger, AOM Shares Convert at 4.5017 OMEX Shares
AI Summary
Odyssey Marine Exploration, Inc. has entered into a definitive Agreement and Plan of Merger to acquire American Ocean Minerals Corporation (AOM). Under the terms, AOM will become a direct, wholly owned subsidiary of Odyssey, with each outstanding AOM common stock share converting into 4.5017 shares of Odyssey common stock. This strategic acquisition is anticipated to close in the late second to early third quarter of 2026, consolidating operations within the ocean minerals sector. The deal also includes provisions for certain AOM stockholders to receive convertible preferred stock to manage beneficial ownership limitations, and for the assumption of AOM PIPE Warrants by Odyssey.
Key Highlights
- Odyssey Marine Exploration will acquire American Ocean Minerals Corporation (AOM) through a merger, making AOM a wholly owned subsidiary.
- Each outstanding share of AOM common stock will be converted into 4.5017 shares of Odyssey common stock.
- Certain AOM stockholders will receive Odyssey preferred stock, convertible into common stock, subject to a 4.99% beneficial ownership limitation, to prevent exceeding this threshold.
- All outstanding AOM PIPE Warrants will be assumed by Odyssey and converted into Odyssey warrants.
- The merger is expected to be completed in the late second to early third quarter of 2026.