Odyssey Marine Exploration merges with American Ocean Minerals Corporation

Odyssey Marine Exploration, Inc. and American Ocean Minerals Corporation have initiated steps toward merging in a deal valued at approximately $1 billion. The merger aims to create a scaled platform in the deep-sea mining sector focused on critical minerals and rare earth elements. The combined entity seeks to leverage dual regulatory pathways in the U.S. and Cook Islands to advance exploration and development activities.

The strategic merger will involve an all-stock transaction, with AOMC’s outstanding common stock and warrants being exchanged for Odyssey’s stock and warrants. This transaction has received unanimous approval from Odyssey’s board and key shareholders have agreed to voting support commitments. Odyssey has filed a registration statement on Form S-4 with the SEC—a significant procedure in the merger process.

Mark Gordon, CEO of Odyssey, emphasized that the merger builds on Odyssey’s operational infrastructure and AOMC’s capital resources. The newly formed company aims to enhance financial capacity, broaden mineral interests, and improve operational capabilities essential for advancing marine critical mineral opportunities. The platform will capitalize on existing exclusive economic zone exploration licenses and staged commercialization plans, backed by AOMC’s strategic investments.

The merger positions the combined company within a competitive industry focused on the exploration of polymetallic nodules and the broader deep-sea mining sector. As regulatory and environmental scrutiny continues to tighten globally, the ability to operate within multiple jurisdictions may offer a strategic advantage. This comes at a time when demand for critical minerals—essential for technology and clean energy applications—is increasing.

Pending regulatory approvals and successful SEC review, the merger is expected to culminate in the new entity operating as American Ocean Minerals Corporation, trading on Nasdaq under the ticker symbol "AOMC." Further details about financial allocations and exploration timelines remain contingent on regulatory guidance and shareholder approval.