Soulpower and SWB amend business combination; add Uruguay iron mine; pro forma value ~$8.5B

Soulpower Acquisition Corp.

BCA amended March 26, 2026; asset contributions adjusted, Uruguay iron mine added with ~1.17B tons run-of-mine material.
Pro forma combined company valuation expected ~$8.5B based on $10/share and no redemptions from trust.
Closing expected late Q2 or Q3 2026, subject to shareholder approval and regulatory conditions.
Other changes: transaction expense reimbursement, scrivener's error corrections, BVI banking license valuation limited to equity.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Soulpower Acquisition Corp. amended First Amendment to the Business Combination Agreement with SWB LLC (effective 2026-03-26).

Action: amendment
Agreement: merger
Counterparty: SWB LLC
Effective: 2026-03-26

Exact text from the filing

On March 26, 2026, the SPAC, Pubco and the Company entered into the First Amendment to the Business Combination Agreement (the "BCA Amendment"), which amends the Business Combination Agreement

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Soulpower Acquisition Corp. filing history →

Source: SEC EDGAR

accession 0001493152-26-014224

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