DeepGreen Metals Said In Talks to Go Public Via Sustainable SPAC

DeepGreen Metals Inc., which plans to produce metals used in electric-vehicle batteries, is in talks to go public through a merger with Sustainable Opportunities Acquisition Corp., a blank-check company, according to people with knowledge of the matter.

Sustainable Opportunities has begun discussions to raise new equity from potential investors for a transaction that’s set to value the combined entity at about $2.8 billion, said the people, who asked not to be identified because the talks are private. The special purpose acquisition company is seeking to raise around $200 million to fund the deal, an amount that may be increased, said some of the people.