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Plum Acquisition Corp. III's Business Combination Partner, Tactical Resources, Secures $140 Million Financing
PLMJF
Debt Issuance
New Projects/Investments
M&A
- Tactical Resources Corp., which is combining with Plum Acquisition Corp. III, secured a US$140 million financing package from Yorkville Advisors Global, LP on November 10, 2025.
- The financing comprises up to US$40 million in convertible debt and a US$100 million standby equity purchase agreement.
- This capital is earmarked to support the business combination with Plum, facilitate a Nasdaq listing for the combined entity, and accelerate the development and supply of domestic rare earth elements.
- The convertible debt includes US$10 million in committed capital (US$7.5 million at closing, US$2.5 million upon conditions) and US$30 million available by mutual agreement, with notes bearing 5% interest and a 12-month maturity.
- The business combination is projected to close in the fourth quarter of 2025.
Nov 10, 2025, 10:25 PM
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