Evolution Metals completes business combination with WTMA, changes name to EMAT and closes $80M bridge loan

Evolution Metals & Technologies Corp.

Merger closed Jan 5, 2026; WTMA renamed to Evolution Metals & Technologies Corp. (EMAT) and trades on Nasdaq.
Consideration valued at ~$4.76B; David Wilcox received shares worth $61.9M in Step 7 Merger.
EM also acquired four Korean companies: Handa Lab, KCM, KMMI, NS World for aggregate purchase of $48.1M, deferred.
Bridge loan of $80M at 6.00% p.a., maturing 5 business days after closing, unsecured for general corporate purposes.
Lock-up agreements: EM equityholders locked up until third anniversary; Korean equityholders locked up 7 days post-closing.

item 3.03 item 1.01 item 2.01 item 5.02 item 9.01 item 2.03 item 3.02 item 5.01 item 5.03 item 5.05 item 5.06 item 7.01

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Source: SEC EDGAR

accession 0001213900-26-003038

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