WTMA enters $5.96B merger with Evolution Metals, renames to Evolution Metals & Technologies

Evolution Metals & Technologies Corp.

Merger consideration totals ~$5.96B: $5.1B in stock to William David Wilcox Jr., $829M stock and $25M cash to minority equityholders.
Post-closing entity renamed Evolution Metals & Technologies Corp.; new board of five directors with Wilcox as Executive Chairman.
Conditions: stockholder/equityholder approvals, SEC effectiveness of S-4, Nasdaq listing, net tangible assets ≥ $5M, no MAE.
Termination can be by mutual consent or if closing fails by June 30, 2025.
EM waives claims against WTMA's trust account; Sponsor and Company Equityholder enter support/lock-up agreements.

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