Metals Acquisition Corp. II Announces $200M IPO Pricing

The company plans to target opportunities across the natural resources value chain, with a focus on metals and mining businesses.

Mar. 12, 2026 at 12:08am

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Metals Acquisition Corp. II, a blank check company formed to pursue business combinations in the natural resources sector, announced the pricing of its $200 million initial public offering. The company will offer 20 million units at $10 per unit, with each unit consisting of one Class A ordinary share and one-third of one redeemable warrant. The units are expected to begin trading on the New York Stock Exchange under the ticker 'MTAL.U' on March 12, 2026.

Why it matters

The IPO represents a significant capital raise for Metals Acquisition Corp. II as it seeks to identify and acquire a target business in the metals and mining industry. The company's focus on stable jurisdictions and the natural resources value chain could make it an attractive investment vehicle for those looking to gain exposure to the sector.

The details

Each unit sold in the offering consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50 per share. Once the securities begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols 'MTAL' and 'MTAL WS,' respectively. The offering is expected to close on March 13, 2026, subject to customary closing conditions.

  • The units are expected to commence trading on March 12, 2026.
  • The offering is expected to close on March 13, 2026.

The players

Metals Acquisition Corp. II

A blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, with a focus on opportunities across the natural resources value chain, particularly in the metals and mining sector.

Cohen & Company Capital Markets

A division of Cohen & Company Securities, LLC, acting as the Lead Book-Running Manager for the offering.

Jett Capital Advisors, LLC

Acting as a Co-Manager for the offering.

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What they’re saying

“This press release contains statements that constitute 'forward-looking statements,' including with respect to the proposed initial public offering and the anticipated use of the net proceeds from the offering.”

— Metals Acquisition Corp. II

What’s next

The company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.

The takeaway

Metals Acquisition Corp. II's $200 million IPO represents a significant capital raise as the company seeks to identify and acquire a target business in the metals and mining industry, focusing on opportunities in stable jurisdictions across the natural resources value chain.