(April 8): American Ocean Minerals Corp, a deep-sea exploration company led by former Rio Tinto CEO Tom Albanese, is combining with Odyssey Marine Exploration Inc in a reverse merger, according to people with knowledge of the matter. The all-stock deal values the combined company at about US$1 billion (RM3.98 billion) on a pro forma equity basis, the companies said in a statement Wednesday morning. Following the transaction, which is subject to approval from Odyssey shareholders, the company will be operated as American Ocean Minerals Corp. and trade on the Nasdaq under the symbol AOMC. “This is really about creating a scaled, US-controlled critical minerals supply chain,” Albanese said in an interview. Rising demand for these critical minerals with limited supply is increasing the urgency to develop alternative sources.

Source: The Edge Markets April 08, 2026 13:55 UTC