Metals Acquisition Corp. II Completes $230M IPO

The blank check company plans to target natural resources and mining businesses in stable jurisdictions.

Mar. 13, 2026 at 9:22pm

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Metals Acquisition Corp. II, a blank check company formed to pursue mergers and acquisitions in the natural resources and mining sectors, announced the closing of its $230 million initial public offering, including the full exercise of the underwriters' over-allotment option. The company sold 23 million units at $10 per unit, with each unit consisting of one Class A ordinary share and one-third of one redeemable warrant.

Why it matters

The successful IPO provides Metals Acquisition Corp. II with significant capital to pursue acquisition opportunities in the natural resources and mining industries, which have been an area of investor interest amid global supply chain challenges and the transition to renewable energy sources.

The details

Concurrently with the IPO closing, the company also closed a $7.6 million private placement of 5,066,666 warrants. The IPO proceeds, along with the private placement funds, have been placed in a trust account. Metals Acquisition Corp. II plans to target businesses across the natural resources value chain, with a particular focus on metals and mining in stable jurisdictions.

  • The IPO closed on March 13, 2026.
  • The units began trading on the New York Stock Exchange on March 12, 2026.

The players

Metals Acquisition Corp. II

A blank check company formed to pursue mergers and acquisitions in the natural resources and mining sectors.

MAC Partners LLC

The company's sponsor, which purchased 3,533,333 private placement warrants.

Sternship Advisers Pty Ltd.

Purchased 76,667 private placement warrants.

Cohen & Company Capital Markets

A division of Cohen & Company Securities, LLC, which purchased 1,226,666 private placement warrants and acted as the Lead Book-Running Manager for the IPO.

Jett Capital Advisors, LLC

Purchased 230,000 private placement warrants and acted as a Co-Manager for the IPO.

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What’s next

Metals Acquisition Corp. II will now focus on identifying and completing a merger or acquisition target in the natural resources and mining sectors.

The takeaway

The successful IPO of Metals Acquisition Corp. II demonstrates continued investor interest in the natural resources and mining industries, as companies seek to capitalize on global supply chain challenges and the transition to renewable energy sources.