Appleby acted as Cayman Islands legal counsel to Namib Minerals Limited in connection with the closing of its business combination with Hennessy Capital Investment Corp. VI (Nasdaq: HCVI), a publicly traded special purpose acquisition company (SPAC).
The transaction, which closed on 5 June 2025, results in Namib Minerals becoming a publicly listed company on Nasdaq under the ticker symbol “NMM”. Under the terms of the business combination, Namib was valued at a pre-money enterprise value of $500 million, based on the issuance of approximately 50 million ordinary shares. The agreement also provides for up to 30 million additional ordinary shares to be issued if Namib achieves certain operational milestones, such as commencing commercial production at the Mazowe and Redwing mines, according to the company.
Namib Minerals is developing a leading copper platform anchored by the Omaruru Copper Project in central Namibia, with a strong commitment to responsible mineral production and sustainable practices. As the global demand for energy transition metals grows, Namib Minerals is uniquely positioned to deliver high-quality copper resources critical to electrification, infrastructure, and global decarbonisation efforts.
Appleby advised on all Cayman Islands legal aspects of the transaction. The Appleby team was led by Partner Simon Raftopoulos and Counsel Alexandra Low, and supported by Senior Paralegal Petrina Moore.
To read the official announcement on the transaction, please click here.
