Mark Sloan's questions to American Resources (AREC) leadership • Q2 2024
Question
Asked about the mechanics of the American Metals SPAC deal, specifically the benefit to AREC shareholders, the distribution percentage, the valuation, and the timeline for the delayed 10-Q filing.
Answer
American Resources currently owns 100% of American Metals, which was valued at $170M in the SPAC deal. A yet-to-be-determined portion of the new public company's shares will be distributed to AREC shareholders. The delayed 10-Q was filed on the day of the call.