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Constellation Acquisition I ( (CSTAF) ) has issued an update.
Jindalee Lithium Limited, an Australian company, announced on September 8, 2025, that it has signed a non-binding Letter of Intent with Constellation Acquisition Corp I, a US SPAC, to merge with its subsidiary HiTech Minerals, Inc. The proposed merger aims to form a new entity, NewCo, which will be listed on a US national securities exchange, providing Jindalee access to US capital markets. The transaction assigns an equity value of $500 million to Jindalee’s US assets and involves a capital raise of $20-30 million, with $4 million committed by affiliates of Antarctica Capital. The merger is expected to enhance the development of the McDermitt Lithium Project, one of the largest lithium resources in the US, and position it to benefit from US government support for domestic critical minerals supply. However, the completion of the transaction is subject to various conditions, including shareholder and regulatory approvals.
More about Constellation Acquisition I
Average Trading Volume: 256
Technical Sentiment Signal: Buy
Current Market Cap: $117.1M
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